The transaction will be completed by a special purpose vehicle owned by KKR-managed funds, which will purchase a controlling stake in Healthium Group, even though the financial details are not disclosed. Founded in India in 1992, Healthium is a medical device firm that develops, manufactures, and sells a comprehensive range of surgical products globally. The investment by KKR was made from its Asian Fund IV.
Global private equity firm KKR has agreed to buy Healthium Medtech Ltd, a medical equipment company based in Bengaluru, from an affiliate of Apax Partners LLP-managed funds.
Healthium Group’s ownership would be taken by a special purpose entity which would be members of KKR funds, as announced in their statement to the public.
Healthium, established in 1992 as a medical device company devote to designing, manufacturing and distribution of a full range of surgical instruments worldwide. The company’s product portfolio (wound closure, arthroscopy, and advanced wound closure solutions) range is comprehensive enough and covers the diverse needs of surgeons.
With the emergence of a leading healthcare investor such as KKR whose wide experience coupled with in-depth knowledge of the Indian market has made it a pleasure to welcome them as an investor, we are looking forward to an effective expansion of our operations. As fortune smiles on us, we are convinced that together we shall achieve better growth and position in the market.
As he noted, the partnership with the alliance was instrumental in the company’s fast-tracking of development. “Ultimately, our products are now used in one-in-five operating rooms worldwide, and we have increased the number of the countries that we are present in by almost twice as much,” he continued.
In that year, Apax acquired Healthium. Ever since that, the company boas of having expanded its portfolio of total surgical solutions and consumables, whereas also developing new portfolio franchises such as Arthroscopy and Advanced wound care both by internal R&D and M&A activities successively. It has also boosted its international exposure, growing from just 50 nations to over 90.
“Having a global network of experts and extensive knowledge of healthcare sector only aid us to further scale the business development process by employing the tactics of organic and inorganic growth. At KKR, India Private Equity, we are thrilled to implement these strategies in order to strengthen the growth of the health care sector,’ said Akshay Tanna, the partner and Head of India Private Equity, at KKR.”
KKR participated in the financing round via its Asian Fund IV. Healthium is actually the extension of a KKR medical arm which is composed of Max Healthcare, JB, Gland Pharma, PHC, and Metro Pacific Hospitals, among others.
Earlier this year, it was rumored that KKR was in advanced talks to invest $250-300 million in online ticketing company BookMyShow.
