NEW DELHI: Abu Dhabi Investment Authority (ADIA), UAE’s largest sovereign wealth fund, has entered into a definitive agreement to invest $200 million (around Rs 1,700 crore) for a 3% stake in Meril (Micro Life Sciences), a medical devices company. This investment values Meril at an enterprise value of $6.6 billion (around Rs 56,000 crore), says a company statement. The transaction is subject to regulatory approval by the Competition Commission of India (CCI). Post this deal, Meril will be backed by two globally recognised investors — ADIA and Warburg Pincus, it adds. In 2022, Warburg Pincus announced that it will invest $210 million for a minority stake in Meril. Sanjeev Bhatt, senior vice president — strategy, Meril, said: “This investment by ADIA reinforces confidence in Meril’s long-term vision and global ambitions. This investment will enable us to accelerate growth, attract worldclass talent, and further strengthen our R&D and clinical research efforts as we work towards improving the quality of human life through advanced healthcare solutions.” Founded by the Bilakhia Group, Meril has a strong focus on clinically-advanced solutions across multiple specialties — including cardiovascular, structural heart, orthopaedics, endo-surgery, in-vitro diagnostics, and surgical robotics. Headquartered in Vapi (Gujarat), Meril operates state-of-theart, vertically integrated, and globally certified manufacturing and R&D facilities. Established in 1976, ADIA is a globally diversified investment institution that invests funds on behalf of the Abu Dhabi govt through a strategy focused on long-term value creation.