TPG Growth, a unit of US private equity firm TPG Capital has invested 1.45 billion rupees ($22.9 million) in Sutures India Pvt Ltd, a privately held medical consumables firm, it said on Monday.
Bangalore-based Sutures India manufactures and supplies surgical sutures, meshes, tapes and gloves to hospitals in India. It also exports to countries in Asia, Europe, Africa and South America.
TPG did not disclose how much stake it would take in Sutures India.
TPG Growth, which manages assets worth $3.5 billion globally, has focused on the healthcare, financial services, consumer and retail sectors in India.
($1 = 63.39 rupees)