IMAP India advised Johari Digital Healthcare on the sale of 51% of the business to India’s leading electronics manufacturing solutions (EMS) company, Syrma SGS Technology Ltd for a consideration of $32mn.
Here is what Satyendra Johari, Chairman of Johari Digital Healthcare Limited, had to say about the transaction :
“In last three decades, JDHL has earned Trust and recognition of global leading medical devices companies for design, engineering and manufacturing services. We are excited to be partnering with Syrma SGs, whose dynamic leadership and expansive industry insight will broaden the spectrum for us to develop smart and affordable medical electronics for the world. With this partnership, we are poised to be the leading medical electronics company of India.”
Satyendra Johari, Chairman of Johari Digital Healthcare Limited
Johari Digital Healthcare Ltd (“JDHL”) is a 4-decade-old company that has built a reputation as a designer and manufacturer of non-invasive medical devices. Catering to global clientele, the company has a multi-location design team with manufacturing operations in India. Its manufacturing facility is FDA & MDSAP certified; JDHL also provides regulatory support to its clients for product certifications.
Syrma SGS Technology Ltd (“Syrma SGS”) is among the larger EMS companies in India with 13 manufacturing plants and over 7500 employees. The company listed in 2022 and currently trades at a$1bn+ market cap. In the last financial year, the company achieved sales of over $250mn.
Manufacturing in India has seen strong growth due to a surge in domestic demand as well as a shift in global supply chains. The IMAP team has been tracking this sector; JDHL’s growth, high margins and technical capabilities made the company a strong fit for Syrma SGS as it was keen to expand its portfolio in medical electronics.
They have very deep understanding of EMS business. And, they could also see the potential in our company, being into medical-tech space and they really pitched very well. They understood very well what is the potential of our company in the coming future. I mean they could pitch more than what we have understood, they brought us also the clarity.
Mrs.Nisha Johari, Managing Director, Johari Digital
We are grateful to founders and director of the two companies for their kind words in the role played by IMAP India in the deal process.
