IMAP India is pleased to announce the successful completion of the sale of Banga Group, a manufacturer of consumer medical devices, to Krofta Engineering Limited. The transaction marks Krofta’s strategic entry into the high-growth medical devices segment and represents IMAP India’s second transaction in this sector in the past 12 months.
Banga Group is a well-established player in the Indian medical devices space, manufacturing a wide range of consumer healthcare products including digital blood pressure monitors, nebulizers, vaporizers, rehabilitation products, and digital thermometers. With a manufacturing facility located in North India, the company operates largely in the B2B space, supplying high-quality products to both Indian and global healthcare brands.
Krofta Engineering Limited, a pioneering name in water treatment technologies, has acquired Banga Group as part of its strategic diversification into the medical products industry. The acquisition provides Krofta with a ready platform to enter a regulated and fast-growing market segment, backed by a strong manufacturing setup and existing B2B customer relationships.
The medical devices industry in India is experiencing strong momentum, driven by increased awareness, rising incidence of non-communicable diseases, growing insurance coverage, improving affordability, and enhanced government focus on domestic manufacturing. With a current market size of approximately USD 11 billion, the sector is expected to grow at over 15% CAGR in the coming years.
India’s regulatory landscape has also become more supportive through initiatives such as the Medical Device Rules 2017, imposition of higher import duties on select products, pricing controls on essential devices, and incentives for upgrading domestic manufacturing capabilities. These factors are expected to drive more partnerships, acquisitions, and investments in the Indian medical devices space.
This transaction reflects IMAP India’s continued commitment to supporting healthcare businesses in unlocking strategic value through M&A, and reinforces its growing footprint in the medical and consumer health sectors.
