Alkem Laboratories announced that its medical devices arm will acquire up to a 55% stake in Switzerland-based Occlutech Holding for 99.4 million euros (approximately $118 million), marking the Indian drugmaker’s foray into advanced cardiovascular devices.
The transaction, which is subject to regulatory approvals and final agreements, is expected to be completed by June 2026. Following the acquisition, Alkem MedTech will gain access to key high-value markets including the United States, Japan, Germany, and other Western European countries, said Kaustav Banerjee, Chief Executive Officer of Alkem MedTech.
The global medical devices industry is projected to expand significantly, reaching over $1 trillion by 2034 from $604.99 billion in 2026, according to Fortune Business Insights.
Occlutech, the second-largest company in Europe’s minimally invasive cardiac implants segment, reported revenue of 49.4 million euros in 2025, with around 85% of its earnings coming from Europe and the United States.
Meanwhile, Alkem Laboratories, India’s fifth-largest listed pharmaceutical firm by market share, posted a consolidated net profit of ₹6.36 billion for the third quarter, missing analyst expectations of ₹6.51 billion, according to LSEG data. Revenue rose nearly 11% year-on-year to ₹37.37 billion but fell slightly short of the estimated ₹37.6 billion. The company’s shares ended the day 8% lower.