New Delhi: Global investment firm KKR on Monday said it has acquired medica device firm Healthium Medtech from an affiliate of funds advised by APA Partners LLP.
The company has signed a definitive agreement under which funds managed by KK will acquire Healthium from an affiliate of funds advised by Apax, the statement said.
However, the company did not disclose financial details.
KKR said the acquisition will be undertaken by a special purpose vehicle owned by a KKR-managed fund, which will acquire a controlling interest in the Healthium group, including Healthium.
“Under the leadership of Anish and his talented management team, Healthium has established itself as a leading domestic manufacturer of medical devices with a strong track record of providing quality products and wide distribution network in India and globally,” Akshay Tanna , partner and head of indie private equity at KKR, said.Established in India in 1992, Healthium is a medical device company that manufactures and sells a wide range of surgical products globally.
Its portfolio meets the broad needs of surgeons, offering wound closure, arthroscopy and advanced wound closure products.
Apax Funds acquired Healthium in 2018.
“Over the past five years, with the support and partnership of Apex, Healthieu has tremendously accelerated its growth. Our products are now used in one in five surgeries globally and we have expanded our presence in Almost doubled,” said Healthium CEO Anish Bafna.
He added, “With their support, we look forward to being able to leverage their global platform as well as our next phase of growth with strong investment and operational expertise.,
The transaction is subject to the receipt of certain regulatory approvals and is expected to close in the third quarter of 2024.
Healthium is KKR's latest investment in the healthcare sector in India and Asia Pacific.
It has invested in JB, India's leading branded formulation pharmaceutical company; Max Healthcare, one of the largest hospital networks in the country; Glen Pharma is a leading Indian pure-play generic injectable pharmaceutical products company, along with other companies in Japan and the Philippines.
The company has signed a definitive agreement under which funds managed by KK will acquire Healthium from an affiliate of funds advised by Apax, the statement said.
However, the company did not disclose financial details.
KKR said the acquisition will be undertaken by a special purpose vehicle owned by a KKR-managed fund, which will acquire a controlling interest in the Healthium group, including Healthium.
“Under the leadership of Anish and his talented management team, Healthium has established itself as a leading domestic manufacturer of medical devices with a strong track record of providing quality products and wide distribution network in India and globally,” Akshay Tanna , partner and head of indie private equity at KKR, said.Established in India in 1992, Healthium is a medical device company that manufactures and sells a wide range of surgical products globally.
Its portfolio meets the broad needs of surgeons, offering wound closure, arthroscopy and advanced wound closure products.
Apax Funds acquired Healthium in 2018.
“Over the past five years, with the support and partnership of Apex, Healthieu has tremendously accelerated its growth. Our products are now used in one in five surgeries globally and we have expanded our presence in Almost doubled,” said Healthium CEO Anish Bafna.
He added, “With their support, we look forward to being able to leverage their global platform as well as our next phase of growth with strong investment and operational expertise.,
The transaction is subject to the receipt of certain regulatory approvals and is expected to close in the third quarter of 2024.
Healthium is KKR's latest investment in the healthcare sector in India and Asia Pacific.
It has invested in JB, India's leading branded formulation pharmaceutical company; Max Healthcare, one of the largest hospital networks in the country; Glen Pharma is a leading Indian pure-play generic injectable pharmaceutical products company, along with other companies in Japan and the Philippines.
