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India diaper maker Pan Healthcare bags $48m

Startup to use funds to strengthen distribution network

Indian startup Pan Health sells baby diapers, adult incontinence products, sanitary napkins and feminine hygiene products. (Photo by Yuki Kohara) 

NEW DELHI -- Motilal Oswal says its MO Alternate Investment Advisors arm has paid $48.3 million to acquire a minority stake in Pan Healthcare, a maker of baby diapers, adult diapers and sanitary napkins.

Pan Health sells baby diapers under the Little Angel brand, adult incontinence products under the Liberty brand, and sanitary napkins and feminine hygiene products under the Everteen brand. It distributes its products through a network of more than 350,000 offline retail touchpoints and online channels.

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