Goldman Sachs Invests $20 Million in India-Based BPL Medical

Goldman Sachs (New York, NY) is one of the latest financial companies to make a significant investment in India. The multinational investment banked invested $20 million in a medical device company named BPL Medical Technologies. Funds will be used for expansion and commercialization of its technologies.Medical device companies from the United States are taking an interest in India too. While slashed stent reimbursement rates have led some medical device manufacturers to cry foul, companies like CardioDX and Medtronic have already looked towards India for expansion.Since homegrown companies may be the recipients of favoritism, Goldman Sachs is making a good choice with this India-based company."This investment reflects our continued focus on the Indian healthcare sector where we will continue to fund segments that have a great need and large untapped potential," stated Ankur Sahu, a co-leader in Goldman Sachs' Asia division.BPL Medical was founded in 1963. The company manufactures medical devices and products like X-ray machines, fetal monitors, defibrillators and electrocardiographs. Goldman Sachs' investment plans note the development of a future global product line.More articles on medtech in IndiaIndia Cuts Reimbursement Rates for StentsOmar Ishrak: Medtronic to Expand Reach into Emerging MarketsNew Needle-Free Anemia Testing Kit Developed in India