Somerset Indus Capital Partners

Somerset Indus Capital Partners, established in 2014, is a Mumbai-based growth equity investment firm focusing on the Indian healthcare sector. The firm specializes in providing growth capital, typically investing between $5 million to $25 million, to small and mid-sized companies operating in healthcare services and products. Its investment focus includes pharmaceuticals, medical devices, diagnostics, preventive care & wellness, healthcare financing, digital health, and healthcare delivery models. The firm seeks controlling or influential minority investments in growth-oriented companies, aiming to drive value through strategic partnerships and operational improvements. Somerset Indus Capital Partners is led by Avinash Kenkare, a seasoned private equity professional, and Mayur Sirdesai, an experienced healthcare industry veteran.

Dhaval Desai

Senior Associate, Investments

Ramesh Kannan

Partner

Avinash Kenkare

Co-Founder and Partner

Sharad Ladha

Partner

Ashwin Shenoy

Associate - Investments

Mayur Sirdesai

Co-Founder and Partner

Zulfikar Trivedi

CFO

14 past transactions

Cyrix Healthcare

Private Equity Round in 2024
Cyrix Healthcare is a provider of comprehensive medical equipment solutions, serving clients both in India and internationally. The company offers a broad spectrum of services, including equipment maintenance, repair, and calibration, as well as specialized services like critical care equipment support and quality assurance in radiology equipment.

GenWorks Health

Venture Round in 2024
GenWorks Health specializes in delivering healthcare solutions and medical devices tailored for telemedicine services across diverse sectors. The company's offerings include equipment for cardiology, ENT, femtech, in vitro diagnostics (IVD), neonatal care, radiology, respiratory diagnostics, and surgical solutions. GenWorks Health is committed to enhancing medical facilities and diagnostics, particularly in rural areas and tier-2 and 3 locations, ensuring affordability and accessibility for its clients.

Printmann Group

Private Equity Round in 2024
Printmann Group is a manufacturing company that specializes in sustainable printing and packaging solutions. It caters to a diverse range of industries, including pharmaceuticals, food, and fast-moving consumer goods (FMCG). The company's offerings encompass cartons, labels, leaflets, foils, and packaging development services, helping businesses enhance their brand values.

Emil Pharmaceutical Industries

Private Equity Round in 2023
Emil Pharmaceutical Industries is a manufacturer of pharmaceutical and nutraceutical formulations, operating two facilities that produce a diverse array of products such as tablets, capsules, powders, and ointments. The company adheres to WHO-GMP guidelines, ensuring high-quality standards in its manufacturing processes. Emil focuses on providing contract development and manufacturing services, catering to both national and multinational companies. By doing so, it enables these companies to deliver affordable medicines to patients effectively. The company's mission is centered on offering quality and accessible medications, while its vision emphasizes exceptional service and ethical business practices.

GenWorks Health

Venture Round in 2022
GenWorks Health specializes in delivering healthcare solutions and medical devices tailored for telemedicine services across diverse sectors. The company's offerings include equipment for cardiology, ENT, femtech, in vitro diagnostics (IVD), neonatal care, radiology, respiratory diagnostics, and surgical solutions. GenWorks Health is committed to enhancing medical facilities and diagnostics, particularly in rural areas and tier-2 and 3 locations, ensuring affordability and accessibility for its clients.

Globela Pharma

Private Equity Round in 2021
Globela Pharma is a pharmaceutical formulation manufacturing company that provides a range of pharmaceutical manufacturing services to clients in various countries, including Bolivia, Costa Rica, Panama, Venezuela, Chile, Nigeria, Myanmar, Kenya, the Philippines, Sri Lanka, Ghana, Vietnam, and Ivory Coast. The company specializes in producing general pharmacology medicines, oncology treatments, immunosuppressants, and cephalosporins, ensuring that its products meet global quality standards. Globela Pharma aims to deliver effective pharmaceutical solutions to its diverse clientele across multiple regions.

Krsnaa Diagnostics

Venture Round in 2017
Krsnaa Diagnostics Pvt. Ltd. is a leading provider of diagnostic services in India, specializing in both radiology and pathology. Established in 2010 and headquartered in Pune, the company operates diagnostic facilities that offer a comprehensive range of services, including magnetic resonance imaging, computerized tomography scans, digital X-rays, ultrasounds, and mammography in radiology, as well as clinical biochemistry, hematology, histopathology, microbiology, and immunology in pathology. Krsnaa Diagnostics is also recognized for its tele-radiology services, which enable patients to receive timely and accurate diagnostic reports from qualified professionals across the country. The company focuses on delivering high-quality, accessible, and affordable diagnostic solutions to private and public hospitals, medical colleges, and community health centers, leveraging advanced technology and a cloud-based workflow for efficient service delivery.

Prognosys Medical Systems

Venture Round in 2017
Prognosys Medical Systems Pvt Ltd. is an Indian company that specializes in the design, development, manufacture, and integration of radiology, imaging, and telehealth products. Founded in 2003 and headquartered in Bengaluru, the company offers a diverse range of medical imaging equipment, including high-frequency X-ray machines, digital radiography systems, C-arms, and digital fluoroscopy products. Additionally, Prognosys provides a suite of telemedicine solutions under the PROTAS brand, which includes applications for electronic medical records, surveillance of communicable diseases, remote home health monitoring, and tele-radiology. Their products are designed to facilitate efficient healthcare delivery and are exported internationally to meet the needs of health organizations. The company's innovations in mobile radiology equipment and comprehensive telehealth solutions reflect its commitment to enhancing medical services through advanced technology.

Hexagon Nutrition

Series A in 2016
Hexagon Nutrition is a manufacturer and marketer of a diverse range of nutritional supplements aimed at addressing malnutrition and promoting health. The company offers products such as Pentasure brands, clinical nutrition supplements, enteral nutrition supplements, and specialized nutrition for pediatric and geriatric populations. Additionally, Hexagon produces micronutrient premixes and fortified food products, including ready-to-use therapeutic food, flour enzymes, and home fortification solutions. Their products are supplied to hospitals and over-the-counter centers, ensuring that consumers have access to balanced nutrition for both chronic and acute health conditions. Through its comprehensive portfolio, Hexagon Nutrition aims to enhance the nutritional well-being of individuals across various demographics.

Browndove Healthcare

Seed Round in 2016
Browndove Healthcare specializes in providing solutions for the renal care sector, focusing on the manufacturing of dialysis medical devices. The company offers a range of products, including blood tubing sets, dialyzers, AV fistula needles, transducer protectors, sodium chloride, and dialysate mixers. With a robust infrastructure that includes machinery, sterilization capabilities, testing laboratories, and storage facilities, Browndove Healthcare aims to enhance the quality of care in renal units within hospitals, addressing critical needs in the healthcare community.

Chayagraphics Healthcare

Venture Round in 2015
Chayagraphics Healthcare is a distributor of medical consumables and devices, focusing on serving healthcare facilities in lower-tier towns across India. The company offers a diverse range of products, including testing kits, personal protective equipment, disinfectants, and medical devices. Their product portfolio also includes contrast media, disinfectant chemicals, X-ray films, and accessories, as well as automatic X-ray film processors and ultrasound equipment. By providing essential medical supplies, Chayagraphics aims to enhance healthcare accessibility and quality in underserved regions.

Krsnaa Diagnostics

Series A in 2015
Krsnaa Diagnostics Pvt. Ltd. is a leading provider of diagnostic services in India, specializing in both radiology and pathology. Established in 2010 and headquartered in Pune, the company operates diagnostic facilities that offer a comprehensive range of services, including magnetic resonance imaging, computerized tomography scans, digital X-rays, ultrasounds, and mammography in radiology, as well as clinical biochemistry, hematology, histopathology, microbiology, and immunology in pathology. Krsnaa Diagnostics is also recognized for its tele-radiology services, which enable patients to receive timely and accurate diagnostic reports from qualified professionals across the country. The company focuses on delivering high-quality, accessible, and affordable diagnostic solutions to private and public hospitals, medical colleges, and community health centers, leveraging advanced technology and a cloud-based workflow for efficient service delivery.

Prognosys Medical Systems

Venture Round in 2014
Prognosys Medical Systems Pvt Ltd. is an Indian company that specializes in the design, development, manufacture, and integration of radiology, imaging, and telehealth products. Founded in 2003 and headquartered in Bengaluru, the company offers a diverse range of medical imaging equipment, including high-frequency X-ray machines, digital radiography systems, C-arms, and digital fluoroscopy products. Additionally, Prognosys provides a suite of telemedicine solutions under the PROTAS brand, which includes applications for electronic medical records, surveillance of communicable diseases, remote home health monitoring, and tele-radiology. Their products are designed to facilitate efficient healthcare delivery and are exported internationally to meet the needs of health organizations. The company's innovations in mobile radiology equipment and comprehensive telehealth solutions reflect its commitment to enhancing medical services through advanced technology.

Express Clinics

Seed Round in 2012
Express Clinics is a healthcare center that provides a wide range of medical services, including general practitioner consultations, specialist consultations, and various diagnostic services. The clinic specializes in pathology and radiology, offering mammography, x-rays, and sonography. Additionally, it provides comprehensive health checkups such as pre-employment, annual, and pre-insurance assessments. Express Clinics also offers home visit and specimen collection services, as well as dental care and an online health risk assessment. This diverse array of services positions Express Clinics as a comprehensive provider of primary and specialized healthcare.
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