KKR to Acquire Healthium from Apax Funds

KKR, a leading global investment firm, today announced the signing of definitive agreements under which funds managed by KKR will acquire Healthium Medtech Ltd. (“Healthium”), a leading Indian medical devices company, from an affiliate of Funds advised by Apax Partners LLP (“Apax”), a leading global private equity advisory firm. 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.

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Founded in India in 1992, Healthium is a medical devices company that develops, manufactures and sells a broad range of surgical products globally. Its comprehensive, high-quality 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 leader. 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. 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 R&D and M&A. During this period, Healthium expanded its presence from 50 countries to more than 90 today.

Akshay Tanna, Partner and Head of India Private Equity at KKR, said: “Under the leadership of Anish and his talented management team, Healthium has established itself as a leading homegrown producer of medical devices with a strong track record of delivering quality products and a wide distribution network both in India and globally. 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.”

Steven Dyson, Partner at Apax, commented: “Thanks to our long experience partnering with medical devices companies, we saw the opportunity to leverage Healthium’s strong existing portfolio to create a global diversified MedTech platform. We are proud to have supported Healthium on its growth journey to become the leading medical technology player in India through investments in innovation, manufacturing capacity, and portfolio expansion. We would like to thank Anish, Vishal and the team, and wish them every success for the future.”