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Private equity firm Everstone buys stake in Indian medical devices manufacturer

Everstone Group made its first foray in India with a stake purchase in Chennai-based medical devices manufacturer and distributor CPC Diagnostics Pvt. Ltd., through its healthcare platform Everlife.

The investment will add core in-vitro diagnostics segments to the Singapore-based private equity firm's portfolio of medical devices. Financial terms of the deal were not disclosed.

Everlife aims to assist CPC in its manufacturing and distribution efforts within India and Southeast Asia, according to a release.