Warburg Pincus has made a 100% acquisition of Integrace Private Limited, which led to a full exit for both existing shareholders, True North Fund VI LLP and V-Sciences Investments Pte Ltd (a Temasek vehicle).
Cyril Amarchand Mangaldas advised Warburg Pincus on this acquisition.
Reeba Chacko (Senior Partner) provided strategic guidance.
The transaction team was led by Vandana Sekhri (Partner), with support from Siddharth Vedula (Partner), Dhrumil Sanghvi (Principal Associate), and Ayushi Jhawar (Associate).
The due diligence team was led by Vandana Sekhri and Arun Prabhu (Partner - Co-Head - Digital | TMT), with support from Siddharth Vedula (Partner), Dhrumil Sanghvi (Principal Associate), and Ayushi Jhawar (Associate).
The regulatory advisory team was led by Vandana Sekhri, Arun Prabhu and Subhankar Pasalapudi (Partner), with support from Princy D’souza (Associate).
The intellectual property, information technology, and data protection diligence and advisory team was led by Arun Prabhu and Arpita Sengupta (Partner), with support from Mansi Jain, Princy D’souza, and Pooja Bommareddy (Associates).
The pharmaceutical regulatory diligence and advisory team was led by Arun Prabhu and Biplab Lenin (Partner), with support from Anam Chowdhary (Associate).
The employment diligence and advisory team was led by Krithika Radhakrishnan (Partner), with support from Shivika Gupta (Senior Associate).
The ESOP structuring and transition advisory team was led by Sindhushri Badarinath (Partner), with support from Shubham Parkhi (Director - Corporate Practice), Aarav Prasad, and Rashi Kabra (Associates).
The ABAC, AML, and sanctions diligence and advisory team was led by Sara Sundaram (Partner), with support from Nikhil Kansal and Irene Sarkar (Associates).
The competition law advisory team was led by Avaantika Kakkar (Partner - Head - Competition), with support from Anshul Jain (Senior Consultant).
Khaitan & Co advised True North and Integrace on this transaction, providing end-to-end legal support including legal vendor due diligence, structuring, transaction documentation, regulatory advice and support and closing.
The transaction team consisted of Niren Patel (Partner), Saswat Subasit (Partner), Ruturaj Jere (Principal Associate), Akhil Kumar (Senior Associate), and Yash Dawda (Associate). The following provided assistance:
Pharma Regulatory aspects: Sameer Sah (Partner);
Transaction documentation and closing Support: Ravali Rayaprolu (Principal Associate), Priyal Reddy (Senior Associate), Alankrita Singh (Senior Associate), Sama Sushma Reddy (Senior Associate), Shrishti Mishra (Senior Associate), Tirthesh Jain (Associate) and Vinita Jagtiani (Associate);
Vendor Due Diligence: Anshul Prakash (Partner), Abhimanyu Pal (Partner), Sourav Dan (Counsel), Kruthi Murthy (Principal Associate), Shivani Devpura (Principal Associate), Ajeta Anand (Senior Associate), Toshika Soni (Associate), Shouraseni Chakraborty (Associate), and Khushi Sharma (Consultant).
JSA Advocates & Solicitors advised Temasek on this transaction.
The transaction was led by Vikram Raghani (Partner) and Bir Bahadur Singh Sachar (Partner), with support from Vaishnavi Vyas (Senior Associate), Associates Krishna Giri Nair and Rashika Sharda, and Niki Shah (Company Secretary).
Integrace is a leading domestic formulations company focused on orthopedics and gynecology, with a portfolio of more than 20 products catering to pain management, pregnancy and women's health, including five power brands ranking among the top three in their respective markets.
Warburg Pincus has been investing in India for three decades, during which it has developed one of the country's most reputable healthcare investment platforms. The recent investment in Integrace further strengthens this enduring legacy of collaborating with outstanding management teams to build large-scale, market-leading healthcare enterprises.
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