Kochi-headquartered Cyrix Healthcare, backed by healthcare-focused private equity (PE) firm Somerset Indus Capital Partners Fund III, has acquired the medtech solutions business of Blue Star Engineering & Electronics Ltd (Blue Star E&E), per an announcement.
The acquisition will expand Cyrix’s medical imaging business and services, including equipment sales, installation, maintenance, repairs and refurbishment.
Established in 2004, Cyrix provides medical technology services to hospitals, diagnostic centres and other healthcare institutions. It has more than 1,200 biomedical engineers and serves over 25,000 healthcare facilities across India, the Middle East and Africa.
“This acquisition strengthens our imaging capabilities and advances our vision of ensuring healthy healthcare technologies for a healthier India,” said Ajith Kumar S, co-founder and executive director, Cyrix Healthcare.
Somerset Indus picked up a minority stake in Cyrix in 2024. The firm manages around $500 million across three funds and invests in healthcare businesses in India. Its other portfolio companies include Krsnaa Diagnostics and Apex Hospitals.
The combination gives both the healthcare providers access to deeper CT and MRI expertise, broader imaging and refurbishment capabilities, stronger service resources and a wider MedTech platform—all through a single partner.
M&A activity in India’s healthcare sector has also been picking up as companies look to expand their capabilities and reach. Among other potential deals, there are ongoing discussions around Omega Hospitals and ClearMedi Healthcare.
