In a significant boost to India’s growing medical technology sector, Motilal Oswal Alternates has invested $72 million (around ₹600 crore) in Hyderabad-based Sensa Core Medical Instrumentation. The investment marks one of the larger private equity bets in India’s homegrown medical devices space and highlights increasing investor confidence in Indian manufacturers focused on diagnostics and healthcare innovation.
The funding is expected to support Sensa Core’s next phase of growth, including expansion of manufacturing capacity, deeper research and development, and a stronger global presence. It also aligns with India’s broader push to reduce dependence on imported medical devices and build globally competitive products within the country.
A Strong Vote of Confidence in Indian Med-Tech
The investment has been made as a significant minority stake, reflecting a long-term strategic partnership rather than a short-term financial play. Motilal Oswal Alternates is known for backing scalable, research-driven businesses, and its decision to invest in Sensa Core underlines the growing maturity of India’s medical devices ecosystem.
Founded in 2006 by Dr. Ravi Kumar Meruva, Sensa Core has steadily built a reputation as a reliable manufacturer of in-vitro diagnostic and point-of-care testing devices. The company is particularly well-known for its electrolyte analysers, which are widely used across hospitals and diagnostic laboratories in India. Over the years, it has expanded its portfolio to include glucometers, haemoglobin meters, and arterial blood gas analysers.
Scaling Manufacturing and Innovation
One of the key objectives of the fresh capital infusion is to strengthen Sensa Core’s manufacturing and innovation capabilities. The company plans to invest in advanced automation, quality systems, and new production facilities to meet rising domestic and international demand.
Sensa Core is also working on expanding its manufacturing footprint, including facilities located in designated medical device parks. These investments are expected to improve efficiency, enhance product quality, and enable faster rollout of next-generation diagnostic devices.
On the innovation front, the company aims to accelerate product development in areas such as point-of-care diagnostics, where rapid and accurate testing plays a critical role in improving patient outcomes, especially in tier-2 and tier-3 cities.
Reducing India’s Dependence on Imports
India currently imports a large share of its medical devices, making diagnostics an area of strategic importance for policymakers and investors alike. By supporting companies like Sensa Core, private equity players are helping build domestic alternatives that are affordable, reliable, and globally competitive.
Sensa Core already exports its products to more than 70 countries, positioning itself as one of the few Indian medical device companies with a strong international footprint. With additional capital and strategic backing, the company is expected to further scale exports and strengthen India’s position in the global diagnostics market.
Motilal Oswal Alternates’ Focus on Healthcare
Motilal Oswal Alternates, part of the Motilal Oswal Financial Services Group, manages billions of dollars across private equity and real assets. Its continued focus on healthcare and life sciences reflects long-term confidence in the sector, driven by rising healthcare awareness, increasing diagnostic needs, and expanding insurance coverage in India.
The firm has indicated that investments in R&D-led, technology-focused healthcare companies will remain a priority, as India builds capacity in critical sectors such as diagnostics, medical devices, and digital health.
Looking Ahead
The $72 million investment in Sensa Core is more than just a funding round—it signals a broader shift toward supporting Indian companies that combine engineering, research, and manufacturing excellence. As Sensa Core enters its next growth phase, the company is well-positioned to play a meaningful role in improving access to quality diagnostics, while also contributing to India’s ambition of becoming a global hub for medical device manufacturing.