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We are pleased to announce that Advay Capital Advisors Private Limited (“Advay”) acted as the exclusive financial advisor to Cyrix Healthcare Private Limited (“Cyrix Healthcare”) on its acquisition of the MedTech division of Blue Star Engineering & Electronics Limited (“Blue Star E&E”), a wholly owned subsidiary of Blue Star Limited (“Blue Star”). The transaction involves the acquisition of the MedTech business, comprising its high-end medical diagnostic equipment sales and services business, being acquired as a going concern through a slump sale.
This acquisition marks Cyrix Healthcare’s first strategic acquisition, representing an important milestone in its growth journey and further strengthening its position as a leading medical technology management platform in India.
Advay advised Cyrix Healthcare on the acquisition of the MedTech business, providing end-to-end buy-side transaction advisory services throughout the transaction lifecycle. This included evaluating and positioning the acquisition opportunity, supporting the commercial and financial assessment, coordinating financial, legal and other due diligence workstreams, advising on valuation and transaction structuring, facilitating stakeholder discussions, negotiating key commercial and transaction terms, and supporting the transaction through signing and towards completion.
The transaction further strengthens Advay’s track record in the medtech sector and underscores the firm’s expertise in advising clients on strategic M&A transactions.
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