KKR to Acquire Healthium Medtech from Apax Funds in Multi-Billion Deal

Global investment firm KKR announced on Monday its acquisition of Healthium Medtech, a prominent medical device company, from an affiliate of funds advised by Apax Partners LLP. The transaction, valued between Rs 6,500 crore and Rs 7,000 crore, marks a significant move in the healthcare sector. KKR's acquisition is facilitated through a special purpose vehicle owned by funds managed by the firm, aiming to gain a controlling interest in the Healthium group.

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Anish Bafna, CEO of Healthium, has led the company to become a key player in the medical devices industry, both in India and internationally. Under his leadership, Healthium has seen substantial growth, with its products now being used in one-in-five surgeries worldwide. The company's portfolio includes a diverse range of surgical products such as wound closure, arthroscopy, and advanced wound closure products.

Healthium was founded in India in 1992 and has since established a strong presence in the global market. The company was acquired by Apax Funds in 2018, which significantly contributed to its rapid growth and expansion into new markets. With nearly double the market presence now, Healthium looks forward to further growth under KKR's ownership.

Akshay Tanna, Partner and Head of India Private Equity at KKR, praised Anish and his team for their exceptional work in establishing Healthium as a leading producer of medical devices. Tanna expressed confidence in the company's continued success and growth under KKR's guidance.

The completion of this transaction is contingent upon receiving certain regulatory approvals and is expected to close in the third quarter of 2024. This acquisition underscores KKR's commitment to investing in the healthcare sector across India and the Asia Pacific region. KKR has previously invested in several other healthcare companies, including JB Pharmaceuticals, Max Healthcare, and Gland Pharma, demonstrating its strategic interest in this sector.

Healthium's acquisition by KKR is poised to leverage the global platform of KKR along with its investment and operational expertise to enter its next phase of growth. This move is indicative of the increasing interest and investment in India's healthcare sector by global firms.