KKR to acquire controlling interest in Healthium Medtech from Apax Partners

In a significant development within the medical technology sector, KKR, a prominent global investment firm, has agreed to purchase a controlling stake in Healthium Medtech Ltd., an Indian leader in medical devices, from Apax Partners LLP, a global private equity advisory firm. This transaction, managed by a special purpose vehicle owned by KKR-managed funds, marks a pivotal shift in Healthium’s ownership, emphasizing the firm’s substantial growth and its expansion from a national to a global player in the medical devices industry.

Founded in 1992, Healthium Medtech has risen to prominence by offering an extensive array of surgical products including wound closure, arthroscopy, and advanced wound care solutions. The company’s evolution from a domestic suture manufacturer to a global medtech leader was significantly supported by Apax Partners, which acquired Healthium in 2018. Under Apax’s guidance, Healthium enhanced its management team, introducing Anish Bafna as CEO and Vishal Maheshwari as CFO, and expanded its product range and global footprint to over 90 countries.

Akshay Tanna, Partner and Head of India Private Equity at KKR, highlighted the acquisition’s strategic importance, noting, “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.”

KKR to acquire a controlling stake in Healthium Medtech from Apax Partners, setting the stage for further global expansion in the medical technology sector.

Steven Dyson, Partner at Apax, reflected on their successful partnership, stating, “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.”

Expressing gratitude and optimism about the new partnership, Anish Bafna, CEO of Healthium, remarked, “With the support and partnership of Apax, Healthium has tremendously accelerated its growth. Our products are now used in one-in-five surgeries globally. We are delighted to welcome an investor of KKR’s caliber, who brings deep global healthcare expertise and knowledge of the Indian market.”

The acquisition, expected to close in the third quarter of 2024, subject to regulatory approvals, forms part of KKR’s broader strategy to enhance its investment portfolio across the healthcare sector in India and the Asia Pacific. This includes investments in various significant healthcare entities across the region.

This acquisition by KKR not only underscores the growing interest in the healthcare and medtech sectors but also highlights the potential for Indian companies to attract global investors. The move by KKR could pave the way for further innovations and expansions in Healthium’s operations, potentially setting new benchmarks in the medical devices market.