A subsidiary of Abu Dhabi Investment Authority (ADIA) has agreed to invest USD 200 million (~₹1,725 crore) in Meril (Micro Life Sciences Pvt Ltd) for approximately a 3% equity stake, valuing the company at USD 6.6 billion.

This makes it one of the largest recent medical device investments in India and spotlights Meril’s global ambitions and innovation trajectory.

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AZB & Partners acted as the legal advisor to Micro Life Sciences Private Limited (Meril) and its existing shareholder Warburg Pincus. The firm provided end-to-end legal support across structuring, due diligence, regulatory compliance, and documentation.

Parties & Legal Advisors

AZB Deal Team

Core Deal Team:

• Vaidhyanadhan Iyer – Senior Partner

• Jeet Chaudhuri – Partner

• Shivani Shenoy – Senior Associate

• Vyoma Mehta – Senior Associate

• Janhavi Rajkumar – Associate

Due Diligence Support:

• Akanksha Khandelwal, Shloka Jain, Pavit Kaur, Rishad Mehta, Tarini Mehtani – Associates

IP Law:

• Nandan Pendsey, Esq. – Partner

• Rhea Ghanshani – Senior Associate

• Labdhi Golechha – Associate

Employment Law:

• Vikram Shroff – Partner

• Yashashwini Santuka – Associate

Real Estate:

• Veeral Vakharia, Rohan Puskur – Senior Associates

Competition Law:

• Bharat V Budholia – Senior Partner

• Varun Thakur – Senior Associate

• Ashna Mahajan – Associate

Tax Advisory:

• Shruti K.P. – Partner

• Mahima Agrawal – Associate

Strategic Significance

This deal marks a major institutional endorsement of Indian med‑tech, joining Warburg Pincus which previously invested USD 210M in 2022.

The investment positions Meril for accelerated expansion in the global medical technology market. Backed by ADIA’s long-term capital, the company is expected to deepen its R&D capabilities and scale manufacturing for both domestic and international markets.

Valued at $6.6 billion, Meril’s robust growth and innovation in cardiovascular devices, orthopedic implants, endo-surgery, and in-vitro diagnostics have attracted marquee investors, signaling confidence in India’s homegrown med-tech as global investment potential targets.

Why It Matters

• For Meril: USD 200M infusion enables scaling of innovations and infrastructure.

• For ADIA & Investors: Signals trust in India’s med‑tech sector’s competitive edge.

About the Parties

• Meril Life Sciences: Founded 2006; global footprint in 150+ countries; over 13,000 employees; headquartered in Vapi.

• ADIA: One of the world’s largest sovereign wealth funds, focusing on long-term global investments.

• Warburg Pincus: U.S.-based PE firm that invested ~$210M in Meril through affiliate in 2022.

Also read: CAM, A&O Shearman, Khaitan, and Milbank Advise on Adani’s Landmark $1 Billion Mumbai Airport Bond Deal

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Disclaimer

This article is for informational purposes only and does not constitute legal or financial advice. Readers should consult professionals before making decisions.