Kedaara Capital to buy majority stake in Tynor Orthotics at ₹3,500–4,000 crore valuation
Private equity firm Kedaara Capital is set to acquire a majority stake in Tynor Orthotics in a deal that values the medical devices and rehabilitation-products maker at between ₹3,500 crore and ₹4,000 crore. The transaction will enable existing investor Lighthouse Funds to exit and is designed to supply the capital and strategic support Tynor needs for its next phase of growth.
Why the deal matters
The transaction highlights several important trends in India’s healthcare and private equity markets. First, there is growing investor interest in companies that manufacture orthotics, prosthetics and rehabilitation products as demand rises from an ageing population, increasing incidence of chronic conditions and greater focus on post-surgery and home-based care. Second, private equity players continue to back healthcare firms with strong distribution networks and consumer-facing brands, seeking scale and improved operational efficiency.
Strategic goals for Tynor
- Expansion of reach: The fresh capital is expected to help expand distribution across India and into new overseas markets where demand for mobility and rehabilitation aids is growing.
- Product development: Investment can accelerate innovation in product lines and quality enhancements to meet both consumer and institutional requirements.
- Manufacturing and supply chain: Strengthening manufacturing capabilities and making the supply chain more resilient are likely priorities to support higher volumes.
- Potential M&A: With backing from a larger investor, Tynor may pursue acquisitions or partnerships to broaden its portfolio and service offerings.
What Lighthouse Funds’ exit signifies
Lighthouse Funds’ exit via this sale is a typical private equity lifecycle outcome: invest, build value and then monetise the stake. For Lighthouse, the deal will realise returns and allow capital to be redeployed into new opportunities. For Tynor, bringing in a new majority investor means fresh strategic direction and resources to scale further.
Why Kedaara Capital is a fit
Kedaara Capital has a track record of investing in mid-to-large companies that require capital and governance support to scale. For a company like Tynor, which operates in a niche but fast-growing segment of healthcare, Kedaara’s resources and board-level oversight can help professionalise operations, expand channels and raise the company’s competitive profile.
Opportunities and challenges ahead
Opportunities for Tynor include tapping into rising demand for home healthcare products, increasing institutional sales to hospitals and rehabilitation centres, and exporting to markets where clinical rehabilitation is a growing focus. The company could also benefit from broader healthcare digitisation trends and partnerships with physiotherapy and orthopedic providers.
However, there are challenges to navigate. Regulatory standards for medical devices continue to evolve, and competition from both domestic and international players is intensifying. Scaling manufacturing while maintaining product quality and managing costs will be critical. Effective channel management and after-sales service will also be essential for sustaining customer trust.
What to watch next
- Completion of the transaction and any announced terms related to governance or management changes.
- Plans for capital allocation—whether funds will be directed primarily to manufacturing, distribution, R&D or M&A.
- New product launches, export initiatives or partnership announcements that indicate how Tynor will use Kedaara’s backing to grow.
- Performance metrics over the coming quarters, including revenue growth, market share and margin improvement under the new ownership.
The deal marks another example of private equity interest in healthcare manufacturing and consumer medical devices. If executed well, the investment could help Tynor strengthen its position in the rehabilitation market and accelerate its next stage of expansion.