Midmark becomes majority owner of medical care equipment firm

Business
Aug 12, 2010
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VERSAILLES — Nineteen months after announcing its first global partnership with Janak Healthcare Private Limited of Mumbai, India, Midmark Corp. this week said it has become a majority shareholder in the company for an undisclosed price.

Janak was formed in 1951 as Metalbeds India Private Limited to develop and make standard hospital furniture, according to a Midmark news release. It now offers a range of modern patient care equipment, including hospital beds, surgical lighting and home care beds. It employs nearly 300 people.

Representatives of the two companies met at a medical trade show in Dusseldorf, Germany.

Midmark employs 820 people in Versailles and 1,300 people worldwide. Last year, it declined to say exactly what it paid for a minority stake in Janak, but said the price was between $4 million and $8 million.

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