BPL Medical Technologies acquires UK-based Penlon
BPL Medical Technologies Private Ltd, an Indian medical devices company backed by global investment bank Goldman Sachs, announced in September the acquisition of Penlon Ltd, a UK-based global manufacturer of anaesthesia systems and vaporisers with worldwide distribution networks.
Penlon’s product range complements BPL Medical’s existing portfolio and will help in expanding its presence in the critical care segment. Penlon will continue to be based and operated from the UK under the leadership of the existing management team.
Penlon is an internationally recognised brand in the critical care segment with a footprint in 96 countries, including India. With a strong focus on product innovation, the company designs, engineers and manufactures anaesthesia systems, vaporisers and other complementary products. These products are sourced by hospitals, pharmaceutical companies and anaesthesia system manufacturers worldwide.
BPL Medical is among India’s largest medical device companies with over 300 personnel and is a nationwide distributor network. In August of 2013 Goldman Sachs invested in BPL Medical to fund the expansion of its medical devices business. This latest acquisition will increase BPL Medical’s presence and distribution in other emerging and developed markets.
According to Sunil Khurana, chief executive officer at BPL Medical, the acquisition will help to penetrate the large critical care segment in India with Penlon’s technology-driven anaesthesia machines and vaporisers. The company will leverage Penlon’s R&D capabilities to develop many new products suitable for India and other emerging markets. Additionally, Penlon’s global reach will help expand BPL Medical’s international presence.
“This partnership secures a long-term investment which underpins our product strategy to develop world-class anaesthesia machines, monitors and next-generation vaporisers over the coming years,” said Stephen Moon, chief executive officer of Penlon.
“We now plan to expand our product development capabilities across the business and will bring forward a number of key projects. We will also benefit from BPL Medical’s strength in India which will provide substantial growth in the years to come.”