Everstone’s Translumina and Everlife on the Brink of Merger in ₹6,000 Crore Deal; IPO Expected by October 2025

25 June 2025 – Everstone Capital, a private equity firm based in Singapore, is about to finalize the merger of two of its most important healthcare assets: Everlife Holdings and Translumina Therapeutics. This strategic merger attempts to change the medical equipment market in India by forming a single company worth ₹6,000 crore (about $720 million). The new powerhouse is also aiming for an IPO that people are really looking forward to in September or October 2025.

Strategic Consolidation of Healthcare Portfol

With Everstone holding 60% of Translumina and 70% of Everlife, the merger will unite two complementary healthcare platforms into a powerful entity that spans multiple sectors of the medical devices industry. This consolidation is set to significantly enhance their reach, particularly in the burgeoning Indian market, where demand for medical devices is on the rise.

Translumina

Founded in 2010, Translumina Therapeutics has established itself as one of India’s top three stent manufacturers, alongside Sahajanand Medical Technologies and Meril Life Sciences. The company is renowned for its drug-eluting stents (DES), developed in collaboration with the German Heart Centre. Translumina currently commands an 18–20% share of India’s cardiac stent market.

Everlife: A Pan-Asia Healthcare Platform

Everlife Holdings, operating under a “buy-and-build” strategy, invests in and acquires businesses across diagnostic equipment, critical care tools, consumables, and implants. Its clientele includes global medical technology leaders like Abbott, Siemens, Mindray, and Thermo Fisher Scientific.

Growth Potential

The combination puts the two companies in a strong position to become the biggest player in a market that is expected to be worth $15 billion in 2023 and $21 billion by 2029. India’s expanding demand and heavy reliance on imported medical equipment provide indigenous companies a lot of room to grow, especially since they already have a strong manufacturing base in the country.

IPO on the Horizon

After the merger, the new company is scheduled to go public in the following few months, giving investors a chance to participate in India’s rapidly growing healthcare and medtech industries. The IPO will probably help pay for more growth and new ideas, and it will also give early investors a way to get out.

This merger marks a pivotal move in consolidating complementary healthcare capabilities under one roof, with the scale and scope to drive long-term value creation.

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