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Global investment firm KKR announced the signing of definitive agreements to acquire Healthium Medtech Ltd. (“Healthium”), a Indian medical devices company, from an affiliate of Funds advised by Apax Partners LLP (“Apax”), a global private equity advisory firm.
The funds managed by KKR will acquire a controlling interest in the Healthium Group, including Healthium, through a special purpose vehicle.
The projected closing date of the transaction is the third quarter of 2024, subject to the receipt of certain regulatory approvals. Financial information was kept private.
Akshay Tanna, Partner and Head of India Private Equity at KKR, said, “We look forward to leveraging our 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.”
Founded in 1992, Healthium is a medical device company that 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.
Anish Bafna, Chief Executive Officer of Healthium, shared, “Over the last five years, with the support and partnership of Apax, Healthium has tremendously accelerated its growth. Our products are now used in one-in-five surgeries globally, and we have nearly doubled the markets we’re present in.”
Global equity finance firm Apax Partners LLP acquired Healthium in 2018, strengthening its leadership with the hiring of Vishal Maheshwari as CFO and Anish Bafna as CEO.
Steven Dyson, Partner at Apax, said, “Thanks to our long experience partnering with medical device companies, we saw the opportunity to leverage Healthium’s strong existing portfolio to create a globally diversified MedTech platform.”
Jefferies LLC provided financial advice to Apax Partners and Healthium, while Kirkland & Ellis LLP provided legal counsel. Moelis & Company provided financial advice to KKR, while Simpson Thacher & Bartlett and AZB & Partners provided legal counsel.
KKR makes its investment from its Asian Fund IV.
Among the top pharmaceutical firms in the region, JB, Max Healthcare, Gland Pharma, PHC, Bushu Pharma, and Metro Pacific Hospitals are just a few of the companies in India and Asia Pacific that have received investments from its Asian Fund IV.
