Team Blitz India
Global investment firm KKR will buy Indian medical devices maker Healthium Medtech from UK-based Apax Partners in a deal valued at Rs 7,000 crore ($838.60 million), Reuters reported citing sources. KKR will acquire Healthium through a special purpose vehicle – owned by KKR-managed funds – that will have a controlling interest in Healthium group, including Healthium Medtech, the three companies said in a statement.
The acquisition marks KKR’s latest investment in the Indian healthcare sector, with the firm already holding stakes in Indian drugmaker J B Chemicals and Pharmaceuticals, hospital chain operator Max Healthcare and generic injectables maker Gland Pharma. Private equity firm Apax bought Healthium, which is involved in the manufacturing of products used in surgical, post-surgical, and chronic care procedures, in 2018.
“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,” KKR partner and head of India private equity, Akshay Tanna, said to Bloomberg.
KKR will accelerate Healthium’s growth organically and through mergers and acquisitions, he said.
