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A new journey of growth with our Series A fund raise
Leading In Vitro Diagnostics (IVD) manufacturer Medsource Ozone Biomedicals Pvt. Ltd. has raised an undisclosed amount from private equity firm Xponentia Capital Partners.
Medsource Ozone Biomedicals is one of the largest Indian manufacturers of IVD products supplying specialized products to labs pan-India as well exporting to over 35+ countries. Its key products include testing instruments, rapid test kits and reagents for conducting several kinds of diagnostic tests by laboratories. It was also one of the few suppliers of Covid RT-PCR related kits to Indian laboratories. Recently, the company has launched a D2C brand Ozocheck where it sells personal use medical devices through online and offline channels. 

Medsource has been growing year-on-year at a fast pace and aims to use the funds to launch new products and expand its distribution in India and overseas markets. The company will shortly commission its new state of the art manufacturing facility which will help double its capacity. The management also plans to grow through acquisitions and/or partnerships in adjacent product segments.

Mr.Ajaykumar Bhatt, CEO of Medsource Ozone commented: “We are thrilled to partner with Xponentia as they join us in our growth journey. We are confident that together we will set new standards for IVD industry and execute an inclusive growth plan which benefits our customers, team members, shareholders and most importantly, the patients."

Commenting on the investment, Xponentia Capital Partners Founder and Managing Partner Devinjit Singh said, “We are delighted to partner Medsource Ozone in its journey towards building the leading company in the IVD industry with new and innovative testing solutions for diagnostic laboratories. The Indian diagnostics industry is at an inflexion point given the increasing awareness and focus on preventive healthcare. With its professional management team, R&D capabilities and market reputation, Medsource Ozone is well placed to build on its competencies towards building a world class organization.”

Lymonds Mirus Capital Advisors, led by its partner Rashmi Bajaj was the exclusive advisor to the transaction.
The First Indian Organization To Offer Complete Molecular Diagnostic Lab Set Up For Novel Coronavirus Testing

The novel Coronavirus infection or COVID 19 presents a threat of an unprecedented magnitude with global infections growing at an exponential rate. The only method currently available for accurate diagnosis of active infections is the molecular diagnostic assay performed using a real time PCR kit. Such assays require are more complex than standard laboratory parameters such as biochemistry or CBC and require a specialized instrument, reagents, manpower and training. Medsource Ozone Biomedicals is perhaps the only Indian organization providing the complete solution for such set ups. While there is an urgent need for quick, efficient, accurate and widespread testing, there is also a long term need for setting up molecular labs capable of handling such tests which are becoming the cornerstone for global testing of infectious diseases, genetic markers and oncology markers as well. Our solution includes:

Competence Areas

Novel Coronavirus (2019nCoV) Complete Molecular Lab Set up Solution:

 Real Time PCR Platforms

  • Ozocycler Mini - Up to 16 Coronavirus Tests in 1.5-2 hours based on Real Time PCR.
  • Ozocycler Neo - Up to 48 Coronavirus Tests in 1.5-2 hours based on Real Time PCR.
  • Quantgene 9600 - Up to 96 Coronavirus Tests in 1.5-2 hours based on Real Time PCR.

 Extraction and Viral Transport Solutions.

  • Viral Transport Media.
  • Manual Extraction Kits.
  • Automated Extraction Platforms.

 Real Time PCR Assays

  • SARS-CoV-2 Nucleic Acid Detection Kit in 96 tests pack size.
  • Open platform means the same setup can be used multiple other Real Time PCR applications such as genetic testing (e.g. HLA B27), Infectious diseases (e.g. HBV, HCV, HIV, HPV, CMV etc.) and Onco markers (e.g. EGFR, JAK2 etc.) without any further investment.

 Complete Pre and Post Sales Support

  • Assistance in lab design from our experience of setting multiple centers across India for Real Time PCR setup in government/private labs.
  • Other supportive instrumentation for high quality cost effective setup.
  • Training and Application support through dedicated molecular application team.
  • Installation, maintenance and breakdown support through dedicated service team.
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