Motilal Oswal Alternates invests $72 million in Hyderabad medical devices maker Sensa Core

Motilal Oswal Alternates has invested $72 million in Hyderabad-based medical devices company Sensa Core.

Founded in Hyderabad in 2006, Sensa Core is engaged in IP-driven design, development, manufacturing and distribution of specialised in-vitro diagnostic devices. Started as a fully bootstrapped venture, it has evolved into a market leader in electrolyte analysers, with the product used in more than 40,000 hospitals/diagnostic labs across the country and exported to over 78 countries.

It is also one of the leading Indian players in glucometers, haemoglobin meters and recently forayed into arterial blood gas analysers. The company operates a dedicated manufacturing facility in Hyderabad’s Export Promotion Industrial Park, Pashamylaram and will be commissioning a new manufacturing facility in Medical Device Park, Sultanpur, Hyderabad to augment capacity and build capability for new products, Motilal Oswal Alternates said in a release on Monday (December 22,2025).

“Sensa Core exemplifies India’s new era of homegrown medical device champions, driven by rising demand for high-quality, affordable and globally competitive products. It has been built on deep technical expertise, a strong research and development mindset and an innovation culture to turn scientific insights into commercial successes,” said Rohit Mantri, Managing Director and Co-Head of Private Equity at Motilal Oswal Alternates.

With India importing over 75% of its medical devices, with the imports exceeding $8.5 billion, Motilal Oswal Alternates firmly believe in fostering indigenous development and manufacturing in India for local needs and for ‘Make in India’ exports to the world.

The investment will enable Sensa Core to accelerate product development and expand footprint globally, further strengthening its position as one of the leading players in the IVD segment. “With a strong focus on expanding access to healthcare, we believe affordability can be achieved through local manufacturing and large-scale production,” said Sensa Core founder Ravi Kumar Meruva.