Global private equity fund manager Advent International has agreed to acquire a majority stake in India-based biopharmaceutical company Bharat Serums and Vaccines. Advent will acquire Bharat Serums from alternative investment firms OrbiMed Advisors and Kotak Private Equity, as well as the Daftary Family, which founded Bharat Serums in 1971. Kotak and OrbiMed first invested in the business in 2008 and 2010, respectively, and will fully exit their stakes in the company through the transaction. Barat Serums specializes in women’s health care, reproductive treatment, and critical and emergency medicine. The company plans to use the new partnership with Advent to strengthen its presence in India and other markets. Financial details of the transaction, which is expected to close by the end of 2019, were not disclosed.