Medical device company Biorad Medisys has received a Rs 400-crore investment from Kotak Strategic Situations India Fund II (KSS India Fund II), managed by Kotak Alternate Asset Managers.

The company will utilise the investment to set up a new manufacturing plant, repay existing debt and fund increasing working capital requirements. Biorad Medisys has demonstrated its prowess as a supplier of medical devices catering to several segments by providing medical consumables, implants and equipment.

It will strive to scale the business to newer heights through sustainable value creation and providing best-in-class quality and performance. The Indian medical devices industry is witnessing an increasing demand for quality healthcare along with the government’s support for domestic manufacturers.