22.3 C
New York
Friday, May 24, 2024

KKR to Buy Healthium Medtech in India for $839 Million, According to Sources

Global investment firm KKR, known for their savvy moves in the financial realm, is set to acquire Indian medical devices maker Healthium Medtech from Apax Partners, a UK-based entity. Sources privy to the deal reveal its substantial value at 70 billion rupees ($838.60 million).

As of now, both Healthium and Apax have refrained from commenting on the matter when approached by Reuters. Similarly, KKR has chosen to remain tight-lipped about the acquisition.

The acquisition will take place through a special purpose vehicle owned by KKR-managed funds, giving them a controlling stake in the Healthium group, which encompasses Healthium Medtech, as stated by the three companies in a joint 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 (JBCH.NS), hospital chain operator Max Healthcare (MAXE.NS), and generic injectables maker Gland Pharma (GLAD.NS),.

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.

Latest Posts

Don't Miss

Stay in touch

To be updated with all the latest news, offers and special announcements.