Cipla Boosts Med-Tech Portfolio with iCaltech Investment.

Pharmaceutical major Cipla Ltd. has announced a strategic investment in iCaltech Innovations Private Ltd., a Bengaluru-based medical device company specializing in respiratory care. The definitive agreements involve Cipla acquiring optionally convertible preference shares in iCaltech, further solidifying its presence in the respiratory products market.

The drugmaker will invest approximately ₹5 crore to acquire 20 percent voting rights in iCaltech. This will be facilitated through the subscription of 150,820 optionally convertible preference shares, each with a face value of ₹10, along with one equity share of ₹10.

iCaltech Innovations is dedicated to the design, development, and commercialization of diagnostic medical equipment and apparatus, primarily focusing on respiratory conditions. This aligns seamlessly with Cipla's existing robust portfolio in respiratory care, promising to enhance its offerings and market reach.

Cipla stated that the investment is anticipated to be completed within one month from the signing of the transaction documents, or as otherwise mutually agreed upon by both parties. iCaltech Innovations reported a revenue of ₹6.70 crore for the financial year 2024-25.