London-headquartered Apax Partners acquired Bangalore-based Healthium Medtech in a deal worth approximately $350 million. (In mid-March I had mentioned that this deal was in the offing.) Healthium is India’s largest medical consumables and surgical sutures company. It also owns Quality Needles and U.K.-based Clini Supplies.
“Healthcare is a key focus area for Apax in India given secular tailwinds around healthcare spend and government initiatives focused on affordable and universal healthcare,” Apax Partners partner Shashank Singh said.
Apax acquired close to 100% stake from shareholders San Francisco-based TPG Growth, New Delhi-based CX Partners, and founding shareholders. “We are very pleased to have grown Healthium into one of the leading medtech platforms in India and are confident that the company will continue to scale effectively for years to come,” TPG Growth partner Matt Hobart said.
