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Investment firm KKR has signed definitive agreements to acquire Healthium Medtech Ltd., an Indian medical devices company, from an affiliate of Apax Partners LLP, a global private equity advisory firm.

The funds managed by KKR will acquire a controlling interest in the Healthium Group, including Healthium, through a special purpose vehicle.

The transaction, which is subject to certain regulatory approvals, is expected to close in Q3 2024 and financial details have not been disclosed.

“We look forward to leveraging our global network and healthcare expertise to accelerate its growth in this fast-growing sector and further scale its global business through organic and inorganic growth strategies,” said Akshay Tanna, Partner and Head of India Private Equity at KKR.

Apax Partners LLP, a global equity financing firm, acquired Healthium in 2018, enhancing its management with the appointment of Anish Bafna as CEO and Vishal Maheshwari as CFO.

“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,” said, Steven Dyson, Partner at Apax.

Jefferies LLC was the financial advisor and Kirkland & Ellis LLP the legal counsel for Apax Partners and Healthium. While, KKR was advised financially by Moelis & Company and legally by Simpson Thacher & Bartlett and AZB & Partners.

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Established in 2008, KKR is a global investment firm that provides alternative asset management, capital markets, and insurance solutions. Its goal is to generate attractive returns through a patient and disciplined approach, employing world-class people and supporting growth in portfolio companies and communities.

Its Asian Fund IV has invested in pharmaceutical companies in India and the Asia Pacific, including JB, Max Healthcare, Gland Pharma, PHC, Bushu Pharma, and Metro Pacific Hospitals, which are among the leading pharmaceutical companies in the region.