US-based Zeda plans to raise up to $200 million for India foray
New Delhi: US-based Zeda Holdings, which uses 3D printing to manufacture orthopaedic implants, is planning to raise up to $200 million in capital for its India foray, its chief executive officer, Shri Shetty, told ET.
A significant part of the proposed fund raise will be used for setting up multiple small (10,000-20,000 sq ft) yet fully automated facilities in India to do metal 3D printing using advanced semiconductor device fabrication process to manufacture orthopaedic implants targeting trauma and spine surgeries.
On its India entry strategy, Zeda is being advised by Wodehouse Capital Advisors.
“We’re looking for partners and local capital,” Shetty said. “We will use part of the capital for buying some local entities, part of it (will be) used for creating a local team, and the remaining half capital is used for building a factory, doing a joint venture.”
Zeda has 52 USFDA-approved products implanted in more than 32,000 patients. The company offers more than 30 trauma devices and instruments. It has over 150,000 sq ft of manufacturing footprint across the US.
Shetty said Zeda’s focus in India will be on trauma implants, which account for about $3 billion of India’s $8-billion orthopaedic implants market.
“The USFDA-approved implants are expensive. The locally used ones, which were relatively cheaper, are imported from China, Czech Republic, Pakistan and other countries,” Shetty said.
“We can bring the cost down due to local factories, which means that we can sell USFDA implants at very comparable prices to local implants.” Shetty said that since the company’s products are already approved in the US, and registered in Singapore, he expects it would take 6-8 months to register them in India.
Source – ETHealth World
