Mumbai, Dec. 22 -- Motilal Oswal Alternates has acquired a significant minority stake in medical diagnostic equipment manufacturer Sensa Core for $72 million, the companies announced 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.

The companies did not disclose the size of the stake acquired.

"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, managin...