KKR to buy India's Healthium Medtech at $839 million valuation, sources say
Follow us Now on Telegram ! Get daily 10 - 12 important updates on Business, Finance and Investment. Join our Telegram Channel
Global investment firm KKR will buy Indian medical devices maker Healthium Medtech 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, hospital chain operator Max Healthcare and generic injectables maker Gland Pharma.
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)
