Amidst the growing Healthcare landscape and a rush of entrepreneurship, Insights Success gets into a dialogue with Ms. Kavitha Vijay and Ms. Sameena Chatrapathy- Partners at IC Universal Legal who have managed to carve out their place in the race to legal stardom in the Chennai legal market. Kavitha and Sameena have around 15 and 10 years of experience, respectively, in the mergers and private equity space. Sameena is also the exclusive ‘Recommended Attorney’ for Private Equity practice in India by Global Law Experts.
Below are excerpts from our conversation, wherein we discuss regarding the Firm and their team and their experience in the Healthcare sector and what the future holds.
HOW WOULD YOU INTRODUCE YOUR FIRM TO OUR READERS?
IC Universal Legal is a dynamic full-service Indian law firm with over 100 professionals; including 15 Partners spread over 6 cities in India. We have long term association and has been affiliated with the US based Chugh LLP, thereby ensuring that we provide quality legal services to meet business requirements of clients both pan-India and globally. We have received recognitions from leading Editorials who provide profiles, analysis and rankings of recommended law firms in various jurisdictions. Some of the recognitions are- Asialaw Profiles as a ‘Notable Firm’, ranked as a ‘Notable Firm’ in IFLR 1000‘s 2017 and 2018 Edition, recognized by Chambers and Partners as a ‘Noted Firm’ in the area of Private Equity, Global Law Experts has awarded us ‘Recommended Law Firm’ for Private Equity practice in India. We were recently also awarded the ‘Rising Star Award’ by India Business Law Journal.
Equipped with varied experience across diverse sectors and focused practice areas, our core team of lawyers renders bespoke solutions and cohesive legal services focusing on timelines and effectiveness. We pride ourselves in our meticulous analysis and presentation of legal complications and providing tailored solutions to our clients.
We advise on day-to-day business legal issues, diverse corporate legal affairs, formation of legal entities in India and overseas, corporate transactional matters, intellectual property rights, commercial contracts and documentation. Our secretarial team assists clients in meeting day to day compliance requirements on a regular basis and thus also enabling us to develop a stronger practice. Our rich cross border experience and expertise with the domestic laws/regulations coupled with research capabilities to devise innovative structures for M&A, have helped us develop a successful practice. We work with individuals and companies, residents and non-residents providing us with requisite expertise in both foreign investment in India and overseas investment by Indian entities.
Being easily accessible to our clients, providing practical solutions that truly matter within confines of the legal framework thereby facilitating the transaction through its life cycle in a speedy and efficient manner is our USP.
COULD YOU SHED SOME LIGHT ON THE GROWING HEALTHCARE & LIFESCIENCES SECTOR IN INDIA INC.?
Indian healthcare sector (including hospitals, diagnostics and medical devices) and Lifesciences sector (pharmaceuticals and allied businesses) are garnering a lot of attention with ample opportunities to thrive and grow. The sector is continuing to attract several major Private Equity and Venture Capital Firms.
The Indian pharmaceutical market stood at around $39.5 billion in FY2015-16. With conducive government policies including liberalization of the FDI norms, increasing affordability, increasing expenditure by public as well as private players and growing health awareness the market and the industry is only expected to grow manifold in the coming years. .
Additionally, Indian medical devices industry which forms an integral section of healthcare, is the fourth largest in Asia and top 20 in the world in terms of market size. The recently notified Medical Devices Rules, 2017, simplify the process of introducing new medical devices to the Indian market while setting norm for ensuring high-quality devices for patient care and safety.
WHAT HAS IC UNIVERSAL LEGAL’S EXPERIENCE BEEN IN TERMS OF THE M&A DEALS AND PE INVESTMENTS IN THE HEALTHCARE DOMAIN?
The Indian life sciences and healthcare industry has a tremendous potential and is often hailed as a sunrise sector for mergers and alliances as well as PE and VC investments. Indian companies are entering into merger & acquisitions with domestic & foreign companies to drive growth & gain new markets.
Our Corporate M&A and private equity practice has been the key focus of the Firm and over the last decade we have had the opportunity to work on some of the high value and big ticket transactions involving both listed and unlisted Companies. We provide end-to-end transactional assistance, beginning with securing and protecting the confidential details of the client, conducting secretarial and legal diligences, structuring an appropriate, efficient and effective investment mechanism or vehicle and drafting and negotiating complex transactional agreements. Our work with both listed and unlisted companies has helped us appreciate and understand the whole gamut of the securities market, enabling us to assist company’s route funds by both private placement and public issue.
We understand that intellectual property rights are pivotal in the healthcare domain and provide assistance in applying and processing national and international patent and design applications, other than providing assistance in allied intellectual property matters including trademarks and copyrights. We have constantly explored and mastered several verticals in the M&A and private equity market, one of them being the Healthcare and Life sciences. We have counseled on the largest fund raisers in the healthcare sector and work with pharmaceutical conglomerates on a regular basis for their investments. We constantly work with both hospitals and pharmaceutical companies, including their online ventures, thus enabling us to provide an all-round perspective on any issue concerning the health sector.
Our blended advisory services and transactional work across multiple disciplines which help us in delivering an authentic strategic perspective to clients, an in-depth regional knowledge of laws, regulatory environments, the economic zones and commercial realities enhances our service capability.
We have counseled on the largest fund raisers in the healthcare sector and work with pharmaceutical conglomerates on a regular basis on for their investments and transactional work.