# Tube Investments and Premji Invest acquire Lotus Surgicals for Rs 348 crore

Tube Investments of India and Premji Invest signed a share purchase agreement to acquire 100% of Lotus Surgicals for Rs 348 crore. Tube Investments will hold 67% and Premji Invest 33%, marking their entry into the med-tech business.

- Type: Acquisition
- Announced: 2023-03-25
- Where: India
- Value: $42.0M (3.48B INR)
- Status: announced
- Products: wound closure products
- Sectors: [Medical Devices](https://endata.com/sectors/medical-devices.md)

## Companies

- [Premji Invest](https://endata.com/companies/8274.md) (acquirer)
- [Tube Investments of India](https://endata.com/companies/49073.md) (acquirer)
- [Lotus Surgicals](https://endata.com/companies/69312.md) (target)

## Sources

- [health.economictimes.indiatimes.com](https://health.economictimes.indiatimes.com/news/mergers-and-aquisitions/tube-investments-premji-invest-partner-up-to-acquire-lotus-surgicals-for-rs-348-crore/98996580), 2023-03-25: "Tube Investments and Premji Invest on Saturday signed a share purchase agreement to acquire 100 per cent equity capital of Lotus Surgicals Pvt Ltd."
- [worldoftechnicaltextile.com](https://worldoftechnicaltextile.com/tii-and-premji-invest-join-hands-to-acquire-lotus-surgicals-to-create-med-tech-platform/), 2023-03-27: "The acquisition of Lotus marks our entry into the med-tech business."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.