By :- Team VOH
7 May 2024
In a significant move within the healthcare sector, global investment firm KKR has finalized the acquisition of Healthium Medtech (formerly Sutures India) from its current private equity owners, Apax Partners.
The acquisition, valued at INR 7000 Crore ($840 million), marks a substantial investment in the rapidly growing medical technology field.
KKR emerged victorious in a competitive bidding process, outshining other notable contenders, including a consortium led by Mankind Pharma, ChrysCapital, and Novo Holdings, the controlling shareholders of Danish pharmaceutical giant Novo Nordisk.
This strategic acquisition underscores KKR's entry into the healthcare arena and positions Healthium Medtech as a key player in the industry. Healthium Medtech, known as the world's largest manufacturer of surgical needles by volume, presents an attractive investment opportunity for KKR.
Anish Bafna, CEO & MD of Healthium Medtech, expressed enthusiasm about the acquisition, highlighting the potential for growth and innovation in the medical technology sector with KKR's support.
Industry analysts foresee promising prospects for Healthium Medtech, projecting a revenue of INR 1,020 Crore in the current fiscal year. The transaction, valued at 20 times the current EBITDA multiple, reflects confidence in Healthium Medtech's future growth trajectory.
With a robust presence in the global surgical sutures market and a wide range of products spanning various medical specialties, Healthium Medtech is well-positioned for continued success. Its extensive reach across 90 countries and strong market penetration both domestically and internationally further bolster its market position.
This acquisition follows Healthium Medtech's strategic divestments in 2022, indicating its commitment to refining its portfolio and focusing on core areas of operation. Established in 1992, Healthium Medtech specializes in products for surgical, post-surgical, and chronic care applications, serving thousands of surgeons and hospitals worldwide.
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