Goldman Sachs invests $20mln in Indian medical device maker

HONG KONG Sun May 12, 2013 11:33pm EDT

HONG KONG May 13 (Reuters) - Goldman Sachs is investing $20 million in Indian medical device maker BPL Medical Technologies, a unit of BPL Ltd, the bank's second investment in India this month.

BPL Medical distributes products such as electrocardiographs and defibrillator through dealers across India. The funds will be used to expand the company's business, Goldman and BPL said in a joint statement on Monday.

Goldman Sachs acquired a $110 million stake in cable distribution company DEN Networks Ltd last week.

A string of acquisitions this year has pushed India to the top of the Asia's inbound M&A league table, as foreign companies ride on a consumer boom. India's inbound M&A volume totalled $9.86 billion this year, ahead of China, according to Thomson Reuters data.

In August last year, Goldman Sachs bought a $54 million stake in Indian surgical care and fertility clinics company Nova Medical Centers. Globally, Goldman Sachs has invested more $8 billion in the healthcare sector, spread across more than 30 companies, including Biomet, iHealth Technologies.

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