Motilal Oswal Alternates has invested $72 million in Hyderabad-based medical devices company Sensa Core. Founded in 2006, Sensa Core specializes in designing, developing, manufacturing, and distributing in-vitro diagnostic devices. The company leads the market in electrolyte analysers, used in more than 40,000 hospitals and labs across India and exported to over 78 countries. It is also a top Indian player in glucometers, haemoglobin meters, and recently entered the arterial blood gas analyser market. Sensa Core operates a manufacturing plant in Hyderabad’s Export Promotion Industrial Park, Pashamylaram. It will soon open a new facility in the Medical Device Park, Sultanpur, Hyderabad, to boost capacity and develop new products, said Motilal Oswal Alternates on December 22, 2025. Rohit Mantri, Managing Director and Co-Head of Private Equity at Motilal Oswal Alternates, said, "Sensa Core exemplifies India’s new era of homegrown medical device champions, driven by rising demand for high-quality, affordable and globally competitive products. It has been built on deep technical expertise, a strong research and development mindset and an innovation culture to turn scientific insights into commercial successes." India imports over 75% of its medical devices, with imports valued above $8.5 billion. Motilal Oswal Alternates supports Indian manufacturing to meet local needs and boost ‘Make in India’ exports. The investment will help Sensa Core speed up product development and grow globally, strengthening its IVD market position. Sensa Core founder Ravi Kumar Meruva added, "With a strong focus on expanding access to healthcare, we believe affordability can be achieved through local manufacturing and large-scale production."