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A wholly owned subsidiary of a middle eastern sovereign fund has entered into definitive agreements to invest USD 200 million for an approx. 3% stake in Micro Life Sciences Private Limited, one of India’s leading medical devices companies.
The larger public interest, which concerns patient safety, requires that all medical devices be brought within a regulatory regime. One cannot quibble with the intent, purpose and object with which the impugned notifications have been issued.
On 2-6-2023, the Ministry of Health and Family Welfare notified the Medical Devices (Amendment) Rules, 2023 to amend the Medical Devices Rules,
On 30-09-2022, the Central Government, after consultation with the Drugs Technical Advisory Board, notified Medical Devices (Fifth Amendment) Rules, 2022