KKR to buy India's Healthium Medtech at $839 mln valuation, sources say

Max Healthcare Institute

06/05/2024 08:51

(Repeats for wider distribution with no changes to text)
       MUMBAI/BENGALURU, May 6 (Reuters) - Global investment
firm KKR  KKR.N  will buy Indian medical devices maker Healthium
Medtech  HEAT.NS  from UK-based Apax Partners in a deal that
three sources with direct knowledge of the matter say is valued
at 70 billion rupees ($838.60 million).
    Healthium and Apax did not immediately respond to Reuters'
requests seeking comment, while KKR declined to comment.
    KKR will acquire Healthium through a special purpose vehicle
- owned by KKR-managed funds - that will have a controlling
interest in Healthium group, including Healthium Medtech, the
three companies said in a 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.

($1 = 83.4725 Indian rupees)


 (Reporting by Kashish Tandon in Bengaluru, M. Sriram in Mumbai,
Kane Wu in Hong Kong; Editing by Janane Venkatraman
)
 ((Kashish.Tandon@thomsonreuters.com; 8800437922;))