PE Firm KKR To Buy Stake Healthium Medtech’s Arm

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Healthium Medtech (formerly Sutures India) is in the process of selling a stake in its UK-based subsidiary, Clinisupplies, to private equity firm KKR. The transaction’s financial details were not disclosed.

Clinisupplies will be funded by KKR’s $4 billion Health Care Strategic Growth Fund II.

The Apax Partners-backed company intends to reinvest the transaction proceeds in advanced surgery, wound care, orthopaedics, and post-surgical care.

Apax and Healthium Medtech received financial and legal advice from RBC Capital Markets and Kirkland & Ellis for this transaction.

Clinisupplies, based in Watford, UK, was acquired by Healthium in 2016. The company has a diverse product portfolio in continence care and collaborates with the National Health Service (NHS) to supply continence care products. Through its surgical consumables portfolio, Healthium will remain in the UK.

Healthium is a global medtech company that specialises in surgical, post-surgical, and chronic care products. Apax Partners purchased it in 2018 from existing shareholders including TPG Growth, CX Partners, and founding shareholders.

It will cover over 40,000 surgeons across 18,000 hospitals by 2022. It has a diverse portfolio of medical devices and consumables and is the owner of 64 patents in the United States, Europe, and India (including pending applications).

The company currently has eight manufacturing facilities across India and a global presence with exports to over 80 countries, including the United States, France, Germany, and Brazil.

Healthium made three acquisitions in 2021. On July 31, 2021, it acquired AbGel. It also purchased VitalCare in July for GBP 9.25 million (Rs.95.28 crore) through a subsidiary Clinisupplies Limited. It acquired CareNow in August 2021 for an initial purchase consideration of Rs.126 crore and a deferred consideration of Rs.5 crore.



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