UK private equity firm Apax Partners LLP agreed to sell its majority stake in Healthium Medtech Ltd. to KKR & Co. Inc. for an undisclosed amount.
KKR will acquire the India-headquartered medical devices company from an affiliate of funds advised by Apax Partners, according to May 6 news releases on both equity firms’ websites. KKR will have a controlling interest in Healthium once the deal closes.
Steven Dyson, Partner at Apax, said:
“Thanks to our long experience partnering with medical devices companies, we saw the opportunity to leverage Healthium’s strong existing portfolio to create a global diversified MedTech platform. 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.”
The companies expect the deal, which still needs regulatory approvals, to close in the third quarter of this year. Jefferies LLC served as financial advisor and Kirkland & Ellis LLP served as legal counsel to Apax Partners and Healthium. For KKR, Moelis & Co. acted as financial advisor while Simpson Thacher & Bartlett and AZB & Partners served as legal counsel.
Healthium has a presence in over 90 countries.