Abu Dhabi fund ADIA to invest $200 mn in Meril

Abu Dhabi’s sovereign wealth fund ADIA has agreed to invest $200 million in Indian medical device maker Meril, valuing the company at about $6.6 billion as global investors increase bets on India’s fast-growing healthcare sector.

The Abu Dhabi Investment Authority (ADIA) said on Monday a wholly owned subsidiary signed definitive agreements to acquire roughly 3% of Meril’s parent, Micro Life Sciences Pvt. Ltd. The deal, subject to approval by India’s Competition Commission, marks one of ADIA’s largest healthcare investments in India to date.

Founded by India’s Bilakhia Group, Meril is one of the country’s top medical technology companies, developing products across cardiovascular care, structural heart disease, orthopaedics, endo-surgery, diagnostics and surgical robotics.

The privately held company has expanded beyond India in recent years, emphasizing research-led innovation and advanced clinical solutions.

“Meril has established itself as a global innovator in medical technology with a strong focus on clinically advanced solutions,” ADIA said in a statement announcing the agreement.

The sovereign wealth fund, which manages hundreds of billions of dollars on behalf of the government of Abu Dhabi, has been steadily increasing exposure to healthcare and life sciences, attracted by rising demand for advanced care, growing middle-class spending in emerging markets and the appeal of technology-driven growth.

ADIA, set up in 1976, is among the world’s largest and most closely watched institutional investors.

Its mandate emphasizes long-term value creation through a globally diversified portfolio.

The fund does not typically disclose detailed financial terms of its private investments, but its move to back Meril reflects both confidence in the company’s trajectory and a broader interest in India’s healthcare and technology sectors.

Meril, based in Gujarat, is regarded as one of India’s leading innovators in MedTech and among a handful of domestic firms competing globally in high-end medical devices.

Its products include minimally invasive cardiovascular stents, artificial joints and surgical robots, areas where India is looking to reduce import dependency and build export strength.

The transaction comes as foreign investors ramp up bets on India’s healthcare market, which consultancy estimates suggest could double to $150 billion by the end of the decade, driven by an aging population, expanded insurance coverage and hospital investment.

The companies did not disclose when the deal is expected to close, saying it remains contingent on regulatory approval.