Kedaara Capital invests $200 million in Tynor Orthotics

Kedaara Capital has announced a strategic investment of $200 million in Tynor Orthotics Private Limited, an India-based brand of orthopaedic supports, mobility aids and rehabilitation solutions.

Founded in 1993, Tynor has built a presence across orthopaedic supports, mobility aids, rehabilitation and sports performance enhancement solutions. The company distributes its products through more than 300,000 retail outlets and 8,000 hospitals across 60 countries. Its products have reached more than 100 million people, according to the company.

Tynor operates three manufacturing facilities spanning 6.5 lakh sq. ft. and uses lean manufacturing capabilities to produce products for domestic and international markets.

Following the investment, Kedaara will work with Tynor promoters Dr P.J. Singh and A.J. Singh, the professional management team and long-standing strategic partner Thuasne to expand the company's presence in India and overseas. The partnership will also focus on strengthening manufacturing capabilities and building Tynor into a global orthotics and wellness platform.

"With an absolute pride and a heart full of joy, we welcome Kedaara Capital," Tynor promoters Dr P.J. Singh and A.J. Singh said. They added that the partnership would support Tynor's ambition of becoming a leader in the Global South and an important supply-chain partner for the Global North.

Sunish Sharma, founder and managing partner at Kedaara Capital, said India's medical devices sector is among the fastest-growing globally and described Tynor as a category leader in orthopaedic supports and rehabilitation. “We are privileged to partner with them and Thuasne to unlock Tynor's full potential,” Sharma said.

Sumit Gupta, managing director, and Nishant Naveen, principal and co-leads for healthcare and pharma at Kedaara Capital, said the firm sees scope to build on Tynor's doctor relationships, distribution network, research and development capabilities and manufacturing platform.

Thuasne, which has partnered with Tynor for more than 15 years, also welcomed Kedaara's investment. Elizabeth Ducottet, chairman of the Thuasne Group, said the partnership had been driven by a shared ambition to make high-quality orthopaedic solutions more accessible in India.

Delphine Hanton, CEO of the Thuasne Group, said the partnership would combine Tynor's entrepreneurial and industrial capabilities with Kedaara's investment and scaling expertise and Thuasne's international orthopaedic experience.

The transaction also marks the end of Lighthouse Funds' eight-year partnership with Tynor. Rochelle Dsouza, partner at Lighthouse Funds, said the investment period had helped the company strengthen its position through its focus on product quality and its relationships with doctors and patients.