KKR acquires Healthium Medtech from Apax Partners

Global investment firm KKR made headlines on Monday with the announcement of its acquisition of medical devices company Healthium Medtech Ltd, formerly known as Sutures India, from an affiliate of private equity advisory firm Apax Partners. The acquisition, estimated to be around ₹7,000 crore ($838.60 million), will be carried out by a special-purpose vehicle owned by KKR-managed funds, Asian Fund IV.

Healthium, a leading player in surgical, post-surgical, and chronic care products across 90 countries, caught the attention of KKR after a competitive bidding process that also involved Mankind Pharma and ChrysCapital. The company, under the ownership of Apax Funds since 2018, has seen significant growth and expansion, with a strong focus on R&D and strategic acquisitions.

Anish Bafna, CEO and Managing Director of Healthium, expressed excitement about the partnership with KKR, citing their global healthcare expertise and market knowledge as valuable assets for the company’s future growth. KKR’s Head of India Private Equity, Akshay Tanna, praised Healthium’s track record of delivering quality products and its extensive distribution network.

This acquisition marks KKR’s latest move in the healthcare sector, adding to their portfolio of investments in companies like JB, Max Healthcare, Gland Pharma, and Metro Pacific Hospitals. With Healthium’s consolidated revenue on the rise and a promising outlook for the future, the transaction is expected to close in the third quarter of 2024 pending regulatory approvals. Both parties were advised by top financial and legal firms to facilitate the deal.