New Delhi, Sept. 22 -- Romsons Group, which makes medical devices and hygiene products, has secured a strategic private equity investment from Singapore-based Temasek, the companies said in a statement on Tuesday.

Mint first reported in October that Temasek had joined the race to acquire a minority stake worth Rs.1,500 crore (about $170 million) in the medical device manufacturer, valuing the company at about $500 million.

While the companies did not disclose the financial details of the transaction, the deal brings together 70-year-old Romsons' established healthcare platform and operating capabilities with Temasek's global experience and long-term investment perspective.

"The association with Temasek marks an important new chapter fo...