Kedaara Capital invests $200M in Tynor Orthotics

Homegrown private equity firm Kedaara Capital has invested $200 million in Mohali-based Tynor Orthotics Private Limited, which makes orthopaedic supports, mobility aids and rehabilitation products.

The company did not disclose the stake Kedaara Capital will acquire as part of the investment.

Founded in 1993, Tynor’s products are sold through 300,000 retail outlets and 8,000 hospitals across 60 countries. The company operates three manufacturing facilities spread across 6.5 lakh square feet.

According to a statement, Kedaara will work with Tynor promoters PJ Singh and AJ Singh, its professional management team and long-standing strategic partner Thuasne to build an ortho-focused wellness platform. The partnership will focus on expanding Tynor’s presence across India and international markets, while continuing to invest in its manufacturing capabilities

“Big aspiration of Tynor to become the leader of global south and an indispensable supply chain partner for Global north shall now be achieved by having Kedaara as a partner. Kedaara has an illustrious history of great performance and a team of highly competent and motivated operating partners,” said PJ Singh and A J Singh, Promoters of Tynor.

Sunish Sharma, Founder and Managing Partner, Kedaara Capital, said, "India's medical devices sector is among the fastest-growing in the world, and Tynor represents a rare opportunity to partner with a clear category leader in orthopaedic supports and rehabilitation.”

Kedaara Capital currently manages over $6 billion through investments in a variety of sectors including healthcare and pharma, financial services, consumer, and technology services.

Elizabeth Ducottet, Chairman of the Thuasne Group, said, "Our partnership with Tynor began more than fifteen years ago, driven by a shared belief in the potential of the Indian market and a common ambition to make high-quality orthopaedic solutions accessible to more patients. Since then, we have seen Tynor develop into an outstanding company and a recognised leader in India."

Thuasne, an international family-owned healthcare group specialising in orthopaedics and medical compression, has been a strategic partner of Tynor since 2010.