Clairfield advises Weldon Biotech on sale of its POCT division to Everlife

Weldon Biotech India Private Limited, an Indian manufacturer and distributor of in vitro diagnostic products (IVD), sold its i-chroma brand business (Boditech Med Inc., Korea) to CPC Diagnostics Pvt. Ltd., a leading provider of clinical diagnostic products and services and the Indian subsidiary of the Singaporean group Everlife.

Weldon Biotech India Private Limited is a manufacturer and distributor of IVD products. It is the distributor in India of point-of-care testing (POCT) products manufactured by Boditech Med Inc. located in Korea. An i-chroma measures the presence of various biomarkers for cardiac disorders, cancer, hormonal disorders, infectious diseases, autoimmune diseases, and metabolic diseases.

CPC Diagnostics Pvt. Ltd. is a leading provider of clinical diagnostic products and services in India, Sri Lanka, Nepal and Bangladesh, and the Indian subsidiary of Everlife, a platform of the Everstone Group. It is one of the leading providers of diagnostic products and solutions to clinical and scientific laboratories in south and southeast Asia.

This transaction follows on an earlier collaboration agreement signed between Everlife and Boditech in November 2021 to introduce Boditech’s EZ-POC brand to India. The acquisition paves the way for CPC Diagnostics to enter the growing POCT business in India.

Clairfield International acted as exclusive financial advisor to Weldon Biotech India Private Limited. This is Clairfield’s second transaction with Everlife, having previously identified Everlife as the perfect home for CPC Diagnostics, the platform of Everlife’s current buy-and-build strategy in India, and our fifth transaction in the in vitro diagnostic products space in India.