Jashvik Capital expands medtech platform with Rivarp Medical investment

MUMBAI: Private equity firm Jashvik Capital on Tuesday said it is expanding its medical devices platform with its portfolio company Futura Medtech investing in Bengaluru-based Rivarp Medical, marking its third investment through the platform.

Rivarp Medical manufactures devices and implants across orthopaedics, neurosurgery and interventional cardiology, adding new therapeutic segments to Futura as Jashvik builds a scaled, multi-category medical devices business with domestic and global reach, the companies said in a joint statement.

The platform had invested in Dolphin Sutures in October 2024 and Suture Planet in July 2025. Jashvik Capital invested in Futura, a Bengaluru-based maker of surgical consumables and devices, in June 2024.

“Medical devices and consumables is a large and fast growing opportunity in India and international markets. Through these acquisitions, our management team intends to drive synergies related to innovation, manufacturing and sales and distribution channels,” Naresh Patwari, founder of Jashvik Capital, told Mint.

The company did not disclose the financial terms of the deal.

“Partnering with Futura Medtech provides us with access to capital to invest in innovation and to deepen customer engagement. Futura has deep distribution in various channels that are complementary to the distribution strengths of Rivarp,” MT Naidu, founder of Rivarp, said in the statement.

Differentiated portfolio

Founded in 2016, Rivarp Medical has developed a portfolio of products across high-growth therapeutic segments. It has in-house manufacturing capabilities and international regulatory approvals, including EU MDR and US FDA certifications.

The company distributes its products across India and international markets through a network of over 100 channel partners.

India’s medical devices sector is witnessing sustained double-digit growth, driven by increasing healthcare penetration, a shift towards domestic manufacturing and expanding export opportunities. Against this backdrop, Futura Medtech is being developed as an integrated platform combining product innovation, manufacturing scale, and distribution reach.

“Over the next two years, we plan to invest in more businesses to further strengthen our product basket and innovation pipeline and deepen our distribution reach,” Patwari said.

Jashvik Capital invested $25 million in Futura in 2024. The capital is being used to build devices and consumables across multiple specialty areas, drive organic and inorganic growth, and expand access to high-quality medical products in India and international markets, according to the company.

The mid-market private equity firm previously invested ₹400 crore in pharma software provider Marg ERP in July 2025. It has also made investments in Bharuch-based Jabsons Foods and Hyderabad-based eye care chain Smart Vision Eye Specialities Pvt Ltd.