VMPL

Mohali (Punjab)/ Mumbai (Maharashtra) [India], August 25: Kedaara Capital has announced a strategic investment of USD 200 million in Tynor Orthotics Private Limited ('Tynor'), India's #1 doctor-recommended orthopaedic supports, mobility aids and rehabilitation solutions brand, uniquely positioned at the intersection of med-tech and everyday consumer health.

Founded in 1993, Tynor has grown into India's #1 doctor recommended brand in orthopaedic supports, mobility aids, rehabilitation and sports performance enhancement solutions with an extensive reach spanning over 300,000 retail outlets and 8,000 hospitals across 60 countries. Tynor's products have supported more than 100 million lives making healthcare affordable and accessible. It also operates three state-of-the-art facilities across 6.5 lac sq. ft. with its best-in-class lean manufacturing capabilities to deliver global-grade products at competitive prices.

Kedaara will work closely with the promoters, Dr. P.J. Singh and Mr. A.J. Singh, the professional management team and long-standing strategic partner Thuasne to build a leading ortho-focused wellness platform -- deepening the brand's reach across India, expanding its presence in international markets, and continuing to invest in world-class, efficient manufacturing, as the Company enters its next phase of growth.

Dr. P.J. Singh and Mr. A.J. Singh, Promoters of Tynor, said, 'With an absolute pride and a heart full of joy, we welcome, Kedaara Capital. Big aspiration of Tynor to become the leader of global south and an indispensable supply chain partner for Global north shall now be achieved by having Kedaara as a partner. Kedaara has an illustrious history of great performance and a team of highly competent and motivated operating partners. Agility of Kedaara and robust process approach of Tynor shall bring an unprecedented trajectory of growth. Kedaara would further augment what Thuasne initiated and Lighthouse nurtured. We are excited, indeed.'

Sunish Sharma, Founder and Managing Partner, Kedaara Capital, said, 'India's medical devices sector is among the fastest-growing in the world, and Tynor represents a rare opportunity to partner with a clear category leader in orthopaedic supports and rehabilitation. We have long admired Dr. P.J. Singh and Mr. A.J. Singh for building a company anchored in strong values, robust systems and disciplined processes. We are privileged to partner with them and Thuasne to unlock Tynor's full potential.'

Sumit Gupta, Managing Director, and Nishant Naveen, Principal, Co-Leads Healthcare and Pharma, Kedaara Capital, said, 'We are excited to partner with the exceptional team of Tynor and see significant headroom to further build on Tynor's strong doctor equity, deep distribution, R&D capabilities, strong systems and lean manufacturing foundation. We look forward to closely working alongside the promoters, management team, and Thuasne, and leveraging Kedaara's operating expertise to help scale Tynor into a global orthotics champion.'

Elizabeth Ducottet, Chairman of the Thuasne Group, said: 'Our partnership with Tynor began more than fifteen years ago, driven by a shared belief in the potential of the Indian market and a common ambition to make high-quality orthopaedic solutions accessible to more patients. Since then, we have seen Tynor develop into an outstanding company and a recognised leader in India.'

Delphine Hanton, CEO of the Thuasne Group, said : 'The arrival of Kedaara opens a new chapter in this journey. By bringing together Tynor's entrepreneurial and industrial strengths, Kedaara's investment and scaling capabilities, and Thuasne's international expertise in orthopaedics, we have a strong foundation to accelerate Tynor's development in India and internationally. '

Rochelle Dsouza, Partner, Lighthouse Funds, said, 'It has been a privilege to partner with Dr. P.J. Singh, Mr. A.J. Singh and the Tynor team over the past eight years. Their commitment to product quality, and to the doctors and patients they serve, is what has made Tynor the leader it is today. We wish the Company and its new partners at Kedaara every success in the years ahead.'

o3 Capital acted as the exclusive financial advisor for the transaction.

Notes to Editors:

About Tynor

Founded in 1993, Tynor is a brand leader in orthopaedic supports, mobility aids, rehabilitation and sports performance enhancement solutions, and is India's most respected, #1 doctor-recommended orthotics brand (Nielsen survey), present in over 300,000 retail outlets, 8,000 hospitals and 60 countries, having touched over 100 million lives. Born from the belief that healthcare should be affordable, accessible and proactive, Tynor is a testament to India's homegrown capability, with every product designed to exceed global standards. It is the most certified orthotics company adhering to global quality standards, making it the trusted choice of leading pharmacies and hospitals worldwide, with a patient-centric approach that has established enduring trust among doctors, physiotherapists and patients. Tynor focuses strongly on ESG compliance and CSR--reducing waste, recycling effectively and minimizing environmental impact, while empowering communities through skill development, quality education and meaningful employment, and supporting R&D, nurturing startups and building industry-academia partnerships.

For more information about Tynor, please visit: https://www.tynorstore.com/

About Kedaara

Kedaara is an operationally oriented private equity firm pursuing control and minority investment opportunities in India. It currently manages over $6 billion through investments in several market-leading businesses across a variety of sectors including healthcare and pharma, financial services, consumer, and technology services. Since its inception, Kedaara has remained singularly dedicated to its stated strategy of focusing on investments built through trust-based relationships with best-in-class entrepreneurs and management teams across secular fast-growing end markets. Kedaara combines the strengths of a well-networked, highly experienced local investing and operating team, with the experience of their strategic partner, Clayton, Dubilier & Rice, a global private equity firm.

For more information about Kedaara, please visit: https://kedaara.com/

About Thuasne

Thuasne, an international family-owned healthcare group specialising in orthopaedics and medical compression, has been a strategic partner of Tynor since 2010, supporting the company's development and international ambitions through its long standing expertise in orthopaedics and global healthcare markets.

For more information about Thuasne, please visit: https://www.thuasne.com/en-gb

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