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Global investment firm KKR has agreed to acquire Healthium Medtech through the former’s managed funds.
While the size of the deal was not disclosed, a Reuters report cited sources saying that the acquisition was valued at US$839 million.
Healthium is an India-based medical devices company that develops, manufactures, and sells surgical products globally. The acquisition will be done through a special purpose vehicle owned by KKR-controlled funds, aiming to take a controlling stake in Healthium.
Founded in 1992, Healthium – formerly known as Sutures India – provides devices for procedures such as wound treatment and arthroscopy. It was acquired by private equity firm Apax Partners in 2018, and the medtech firm has since expanded from a national suture maker to an international provider of medical devices.
Currently operational in 90 countries, KKR aims to further scale Healthium’s global business, said Akshay Tanna, partner and head of India private equity at KKR.
The closing of the deal, expected in Q3 2024, depends on acquiring regulatory approvals.
Notably, KKR has made multiple healthcare investments in India and the Asia-Pacific region through its US$15 billion Asian Fund IV.
These investments include Indian companies such as JB, Max Healthcare, and Gland Pharma. It has also backed Philippines-based private hospital chain Metro Pacific Hospitals and Japan-based medical equipment manufacturer PHC.
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Editing by Miguel Cordon and Lorenzo Kyle Subido
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