CURA Healthcare acquires Chennai based DE Healthcare

Medical technology company CURA Healthcare has acquired city-based DE Healthcare for an undisclosed sum marking its foray in the Rs 850 crore ultrasound imaging industry.
"It is a strategic deal", CURA Healthcare Chief Executive Officer, M Bala told reporters here, on the acquisition of DE Healthcare, but declined to reveal the sum.
Following the acquisition, CURA Healthcare would foray into the ultrasound equipment device business" he said, adding the DE Healthcare brand would be retained.
"DE Healthcare would focus on sales of ultrasound equipment under CURA's banner with its sales force pan-India. We are having pipeline of opportunities. We are now trying to consolidate", he said.

To a query, he said the company was looking at two more acquisitions this year. "Maybe two more acquisitions", he said but did not reveal further details.
On the target for current fiscal, he said, "We are hoping to become Rs 90-100 crore revenue by March 2015. In next five years, we are aiming to become Rs 500 crore company".

In June, CURA Healthcare announced USD six million capital infusion from private equity firm Peepul Capital that would support its expansion plans.
DE Healthcare Director S Balaji said the domestic medical equipment industry is valued at Rs 30,000 crore and the imaging industry alone is valued at Rs 5,000 crore.

"The ultrasound imaging industry is about Rs 850 crore market, growing 20 per cent (year-on-year).This year,post this acquisition, we are looking at a revenue of Rs 20 crore from DE Healthcare", he said.