Zyax Chem has taken a major strategic leap, acquiring a 26% stake in Gaymed Labs, signaling an aggressive push into the fast-growing ophthalmic and eye care segment.

 

The investment marks a key expansion move for Zyax Chem as it deepens its footprint in chemicals and allied healthcare-adjacent businesses. Under the deal, Varun Mukhi will play a central leadership role in shaping the next phase of growth, joining Gaymed Labs as a Non-Executive Director.

 

Positioned as both capital partner and operational enabler, Zyax Chem is bringing its manufacturing, formulation, distribution, and global partnership capabilities into the business. Mukhi is expected to work closely with the leadership team to drive long-term strategy, scale operations, and sharpen market positioning.

 

Early signs of impact are already visible. Over the past 12 months, Gaymed Labs has reported nearly fivefold growth in monthly sales, reflecting strong underlying demand in the eye care category and the effect of strategic support from Zyax Chem.

 

The partnership now shifts into acceleration mode. Immediate priorities include expanding distribution beyond 1,000+ retail outlets and 100+ dealers, strengthening OEM and private label offerings for global brands, and upgrading manufacturing capacity to meet rising demand.

 

Gaymed Labs brings more than three decades of experience in the ophthalmic space, with established brands such as Multisol and Rinsol. The company is built on in-house R&D strength, regulatory compliance, and end-to-end manufacturing capabilities, giving it a solid base for scale.

 

For Zyax Chem, the deal represents a calculated entry into a high-growth category driven by consistent repeat demand and increasing consumer awareness around eye care. The company continues to pursue businesses where operational integration and scale expertise can unlock outsized value.

 

A spokesperson outlined the strategic intent behind the investment: “Gaymed Labs represents exactly the kind of business we look to partner with, one that combines a strong legacy with clear potential for scale. 

 

"The ophthalmic and eye care segment is seeing sustained growth, driven by rising awareness and repeat consumer demand, and we see a significant opportunity to build a market leading platform in this space. Our focus will be on strengthening product innovation, expanding distribution, and leveraging our operational expertise to accelerate growth and unlock long term value.”

 

The structure of the partnership ensures continuity in operations, with Gaymed Labs’ existing leadership continuing day-to-day management. Zyax Chem will focus on strategic expansion, capability building, and market diversification.

 

Together, the companies are positioning themselves to build a category-leading eye care platform anchored in scale, innovation, and long-term value creation.