KKR Acquiring Healthium from Apax Funds

Today, KKR, a prominent global investment firm, revealed the finalization of agreements whereby KKR-managed funds will purchase Healthium Medtech Ltd. (“Healthium”), a top Indian medical devices company, from an affiliate of Funds advised by Apax Partners LLP (“Apax”), a renowned global private equity advisory firm. This acquisition will be executed through a special purpose vehicle owned by KKR-managed funds, securing a controlling interest in the Healthium group, encompassing Healthium.

Established in 1992 in India, Healthium is a renowned medical devices company specializing in the development, manufacturing, and distribution of a wide array of surgical products worldwide. Its extensive portfolio includes top-quality products catering to various surgical needs, such as wound closure, arthroscopy, and advanced wound care.

In 2018, the Apax Funds acquired Healthium and orchestrated its transformation from a local suture player to a global leader in medical devices. With strategic support, Healthium augmented its management team, appointing Anish Bafna as CEO and Vishal Maheshwari as CFO, thus priming the company for expansion. Through internal research and development efforts and strategic acquisitions, Healthium fortified its product lineup and ventured into new segments like arthroscopy and advanced wound care. This period saw Healthium’s global footprint expand from 50 to over 90 countries.

Akshay Tanna, Partner and Head of India Private Equity at KKR, expressed enthusiasm for Healthium’s trajectory under Anish’s leadership, citing its reputation for quality products and extensive distribution network. KKR aims to leverage its global network and healthcare expertise to propel Healthium’s growth further.

Steven Dyson, Partner at Apax, commended Healthium’s evolution into a leading player in India’s medical technology landscape, highlighting investments in innovation, manufacturing, and portfolio diversification.

Anish Bafna, CEO of Healthium, credited Apax for accelerating the company’s growth over the past five years and welcomed KKR’s partnership for the next phase of expansion. KKR’s investment signifies confidence in Healthium’s potential and brings valuable healthcare expertise to the table.

KKR’s investment in Healthium adds to its healthcare portfolio in India and Asia Pacific, encompassing leading companies in pharmaceuticals, hospitals, and medical equipment.

The transaction is pending regulatory approvals and is anticipated to conclude in the third quarter of 2024. Financial terms were not disclosed.

Advisors involved in the transaction include Jefferies LLC and Kirkland & Ellis LLP for Apax Partners and Healthium, and Moelis & Company, Simpson Thacher & Bartlett, and AZB & Partners for KKR.

About Healthium: Healthium is a global medical devices company committed to providing precision medtech solutions for surgical, post-surgical, and chronic care needs. Present in 90 countries, Healthium products are utilized in one-fifth of surgeries worldwide.

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