Mumbai, Dec. 22 -- Motilal Oswal Alternates has invested $72 million to pick up a significant minority stake in medical diagnostic equipment manufacturer Sensa Core, the companies said in a statement on Monday.

The investment will enable Sensa Core to accelerate product development and expand its footprint globally, further strengthening its position as one of the leading players in the in-vitro diagnostic segment.

"India imports over 75% of its medical devices, with annual imports exceeding USD 8.5 billion. We firmly believe in fostering indigenous development and manufacturing in India for local needs and for 'Make in India' exports to the world," said Rohit Mantri, managing director and co-head of Private Equity at Motilal Oswal Alte...