KKR To Buy India’s Medical Devices Firm Healthium Medtech

SUMMARY

Though the financial details are undisclosed, the acquisition will be made by a special purpose vehicle owned by KKR-managed funds which will acquire a controlling interest in Healthium group

Founded in India in 1992, Healthium is a medical devices company that develops, manufactures and sells a broad range of surgical products globally

The investment by KKR has been made from its Asian Fund IV

Global private equity major KKR has agreed to acquire Bengaluru-based medical devices company Healthium Medtech Ltd from an affiliate of funds advised by Apax Partners LLP.

However, the firms did not disclose the deal size.

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, KKR said in a statement.

Founded in 1992, Healthium is a medical devices 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.

“As we look to further strengthen and expand our market position, we are delighted to welcome an investor of KKR’s calibre, who brings deep global healthcare expertise and knowledge of the Indian market. We look forward to our next phase of growth with their support, being able to leverage their global platform, as well as strong investment and operational expertise,” said Anish Bafna, Healthium’s CEO.

He further added that with the partnership, the company witnessed significant growth. “Our products are now used in one-in-five surgeries globally and we have nearly doubled the markets we’re present in,” he said.

Apax acquired Healthium in 2018. The company claims that since then it has strengthened its portfolio of wound closure devices and consumables and invested in new franchises such as arthroscopy and advanced wound care through in-house R&D and M&A. Additionally, it expanded its presence from 50 countries to more than 90 today.

KKR’s partner and Head of India Private Equity Akshay Tanna 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.”

The investment by KKR has been made from its Asian Fund IV. Healthium is an addition to KKR’s medical portfolio which houses names like Max Healthcare, JB, Gland Pharma, PHC, Metro Pacific Hospitals, etc.

Earlier this year, it was reported that KKR is in advanced talks to invest between $250-300 Mn in online ticketing platform BookMyShow.