Mumbai: Medical devices maker Trivitron Healthcare Pvt. Ltd on Tuesday said it raised 150 crore from private equity firm India Value Fund Advisors (IVFA) to fund its expansion. The capital has been raised in lieu of a minority stake in the company.

IVFA joins the company’s existing investors Fidelity Growth Partners India and Fidelity Biosciences (US) who had invested in it a year ago.

On 23 November, Mint had reported that Trivitron Healthcare was raising nearly 150 crore from India Value Fund Advisors of a minority stake.

“Trivitron has a strong brand, an excellent track record in serving customers through a combination of cutting edge medical technology, cost effective and innovative new products and seamless after sales service in the medical equipment industry in India," said Vishal Nevatia, managing partner, IVFA.

This is IVFA’s sixth investment in the Indian healthcare industry. It had earlier invested in Care Hospitals, Biocon, TTK Healthcare, DM Healthcare and Manipal Hospitals.

Chennai-based investment bank Veda Corporate Advisors Pvt. Ltd advised Trivitron and DSK Legal, BMR Advisors and PricewaterhouseCoopers advised the buyers.