INDIA- Global investment giant KKR has taken a significant stride in the Indian healthcare sector by sealing a deal to acquire Healthium Medtech Ltd, a prominent Indian medical devices company at US$839 million.
KKR’s interest in Healthium Medtech was first reported on May 4 by Moneycontrol, which indicated a potential valuation of up to US$850 million for the acquisition.
The deal, however, is reported to be valued at 70 billion rupees (US$ 838.60m), according to sources familiar with the matter.
The acquisition will be facilitated through a special purpose vehicle owned by KKR-managed funds, enabling KKR to secure a controlling interest in the entire Healthium group, encompassing Healthium Medtech.
Commenting on the acquisition, Akshay Tanna, partner and head of India Private Equity at KKR, expressed confidence in Healthium’s leadership and its market position.
He stated, “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.”
Anish Bafna, CEO of Healthium, expressed optimism about the partnership with KKR, highlighting their global healthcare expertise and understanding of the Indian market.
He stated, “As we look to further strengthen and expand our market position, we are delighted to welcome an investor of KKR’s caliber, who brings deep global healthcare expertise and knowledge of the Indian market.”
Bafna also underscored Healthium’s remarkable growth over the past five years, noting that its products are now utilized in one out of every five surgeries globally.
Bafna expressed enthusiasm about KKR’s investment, citing their global healthcare expertise and understanding of the Indian market as invaluable assets for Healthium’s future growth endeavors.
Established in India in 1992, Healthium Medtech has evolved into a prominent player in the medical devices industry, both domestically and globally.
The company specializes in the development, manufacturing, and distribution of a wide array of surgical products catering to various surgical needs, including wound closure, arthroscopy, and advanced wound care.
In 2018, the company was acquired by Apax Partners,, transitioning it from a domestic player to a global leader in medical devices.
With Apax’s backing, Healthium expanded its portfolio, enhanced its management team, and significantly amplified its global presence, now spanning over 90 countries.
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