Private equity firm True North which owns Integrace, a therapy focussed healthcare company,  has signed an agreement with Temasek Holdings to sell a stake in the company. In return, Temasek Holdings will invest Rs 540 crore through the primary and secondary routes, the PE fund stated.

This investment will value Integrace at Rs 1,200 crore. True North has a majority stake in the company and it will continue to do so despite the partial stake sale.

Integrace currently manages more than 20 brands and recently acquired two brands in Women’s Health from Zydus Cadila.

The company brands are market leaders in core orthopaedic and gynaecology segments like bone and joint disorders, pain management and, pregnancy and women’s nutrition, the press release said.

"Over the last three years, Integrace has earned trust and brand equity in the market. The company has established innovative technology-led systems and processes and has delivered industry-leading operational results while aligning the best interests of all stakeholders – doctors, customers and employees," said Satish Chander, Partner, True North.

“From our initial days itself, Integrace has consciously chosen to operate in sharply focused semi chronic segments, which are growing faster than the Indian Pharmaceutical Market,’’ said Kedar Rajadnye, CEO, Integrace.

This fundraiser is an important step in realising our plans. This will bolster Integrace for more acquisitions in near future, he added.

Integrace, set up in 2018, had acquired Glenmark Pharmaceuticals' gynaecology business for Rs 115 crore in cash, and Glenmark’s orthopaedic and pain management business in India and Nepal, valuing the business at Rs 635 crore in 2018.