The Abu Dhabi Investment Authority (ADIA) is set to invest $200 million in Micro Life Sciences Private Limited (Meril), a leading Indian medical devices manufacturer. The investment will secure ADIA an estimated 3% equity stake, valuing the Gujarat-based company at approximately $6.6 billion.
The deal, executed through a wholly owned ADIA subsidiary, is currently pending approval from India’s Competition Commission (CCI).
Meril, a subsidiary of the Bilakhia Group, specializes in the development and manufacturing of advanced medical technologies. Its diverse portfolio spans cardiovascular devices, structural heart solutions, orthopaedic implants, and surgical robotics. The company is recognized for its innovation-led approach and rapidly growing global footprint in the medtech sector.
This marks another significant step in ADIA’s strategic push into the Indian healthcare and pharmaceutical space. In 2023, the sovereign wealth fund established a subsidiary at GIFT City in Gujarat, with intentions to launch a $4–$5 billion investment fund focused on high-growth sectors within India’s special economic zone.
ADIA has been steadily increasing its exposure to India’s life sciences industry. Earlier, it acquired a 3% stake in Intas Pharmaceuticals for approximately $250–$270 million, valuing Intas at around $8.5 billion. Additionally, ADIA participated in the July IPO of Akums Drugs and Pharmaceuticals, investing ₹500 million ($6 million) and accounting for 6.03% of the anchor book.
The latest investment in Meril underscores ADIA’s long-term confidence in India’s healthcare innovation and its growing global relevance in medical technology.