Apax buys surgical company Healthium in Rs 2,000 crore deal

BENGALURU: Buyout investor Apax Partners said it will acquire India's largest surgical and wound care products maker Healthium MedTech, formerly known as Sutures India, for nearly $350 million, or slightly over Rs 2,000 crore. TOI first reported on the impending deal in its March 5 edition. Apax will buy almost 100% shares from existing investors, which include private equity firms TPG and CX Partners with 73% and 12% respectively, and the founders led by Chandrasekhar Gopalan.
The latest deal to buy the 25-year-old, Bengaluru-based company marks the eighth Indian investment by Apax, and its second after Apollo Hospitals in the domestic healthcare sector. The London-based private equity firm has invested more than $2 billion in India over the past decade.
Shashank Singh, partner at Apax Partners and head of Apax's India office, said, "Healthcare is a key focus area for Apax in India, given longterm growth around healthcare spend and government initiatives focused on affordable and universal healthcare. Healthium, with its strong IP and domestic manufacturing base, is well positioned to improve healthcare access and drive excellence in local manufacturing under the 'Make in India' programme."
Healthium is a manufacturer and exporter of surgical devices and consumables, including wound closure and minimally invasive products.