Penlon, an Oxfordshire-based manufacturer of anaesthesia systems and vapourisers, has been acquired by an Indian medical-devices group backed by the Goldman Sachs investment bank.

BPL Medical Technologies Pvt Ltd said that Penlon’s product range complements its own, adding that the business will stay in Abingdon and continue to be run by the existing management team.

Founded in 1943, Penlon exports to more than 90 countries world-wide. It also operatesin the USA through a Minnesota-based subsidiary.

Penlon chief executive Stephen Moon said: “This partnership secures a long-term investment that underpins our product strategy to develop world-class anaesthesia machines, monitors and next-generation vapourisers over the coming years.

“We now plan to expand our product-development capabilities across the business and will bring forward a number of key projects. We will also benefit from BPL Medical’s strength in India, which will provide substantial growth in the years to come.”

Sunil Khurana, chief executive of BPL Medical, said: “This acquisition will help us penetrate the large critical-care segment in India with Penlon’s world-renowned technology-driven anaesthesia machines and vapourisers.

BPL Medical will leverage Penlon’s R&D capabilities to develop many new products suitable for India and other emerging markets. Additionally, Penlon’s global reach will help expand our international presence.”

BPL Medical is one of the largest medical-device manufacturers in India with more than 300 staff and a large distributor network located across India.