Global investment firm KKR has announced signing definitive agreements to acquire an Indian medical device company, Healthium Medtech from another private equity firm Apax Partners LLP.
The acquisition will be made by a special purpose vehicle owned by KKR-managed funds which will acquire a controlling interest in Healthium group, including Healthium, a statement said.
Founded in 1992, Healthium develops, manufactures, and sells a broad range of surgical products globally. Its portfolio caters to a wide spectrum of surgeons’ needs, offering wound closure, arthroscopy, and advanced wound closure products.
The Apax Funds acquired Healthium in 2018 and transformed the company from a domestic suture player into a global medical devices player.
Healthium strengthened its existing portfolio of wound closure devices and consumables and invested in new franchises such as arthroscopy and advanced wound care through in-house research and strategic acquisitions. During this period, Healthium also expanded its presence from 50 countries to more than 90 today.
With the support of the Apax Funds, the company bolstered its management team to add deep industry experience with the appointment of Anish Bafna as CEO and Vishal Maheshwari as CFO, positioning Healthium for growth.
KKR is making its investment from its Asian Fund IV. Healthium marks KKR’s latest investment in the healthcare sector in India and Asia Pacific. Akshay Tanna, Partner, and Head of India Private Equity at KKR said the firm would leverage its global network and healthcare expertise to “accelerate its growth in this fast-growing sector and further scale its global business through organic and inorganic growth strategies.”
Healthium’s CEO Anish Bafna said that over the last five years it has doubled the markets in which it is present while its products are now used in one-in-five surgeries globally.