MUMBAI/BENGALURU (Reuters) – Global investment firm KKR will buy Indian medical device maker Healthium Medtech from UK-based Apax Partners in a deal that three sources familiar with the matter say is worth 70 billion rupees ($838.60 million).
Helthium and Apax did not immediately respond to Reuters' requests for comment, while KKR declined to comment.
KKR will acquire Helithium through a special purpose vehicle – owned by funds managed by KKR – which will have a controlling stake in the Helthium group, including Helithium Medtech, the three companies said in a statement.
The acquisition marks KKR's latest investment in the Indian healthcare sector, where the company already owns stakes in Indian pharmaceutical company JB Chemicals and Pharmaceuticals, hospital chain operator Max Healthcare, and generic drug maker Gland Pharma.
Private equity firm Apax bought Healthium, which is involved in manufacturing products used in surgical, post-operative and chronic care procedures, in 2018.
($1 = 83.4725 Indian Rupees)
