New Delhi, May 6 (IANS): Leading global investment firm KKR on Monday announced the signing of definitive agreements under which funds managed by KKR will acquire Indian medical devices company Healthium Medtech from an affiliate of Funds advised by the global private equity advisory firm Apax Partners LLP.

According to the company, the acquisition will be made by a special-purpose vehicle owned by KKR-managed funds, which will acquire a controlling interest in the Healthium group, including Healthium.

The transaction is subject to receipt of certain regulatory approvals and is expected to close in the third quarter (Q3) of 2024. Financial details were not disclosed, the company mentioned.

"Under the leadership of Anish and his talented management team, Healthium has established itself as a leading homegrown producer of medical devices with a strong track record of delivering quality products and a wide distribution network both in India and globally," Akshay Tanna, Partner and Head of India Private Equity at KKR, said in a statement.

Healthium was acquired by the Apax Funds in 2018, which transformed the company from a domestic suture player into a global medical devices leader.

With the support of the Apax Funds, the company strengthened its management team to add deep industry experience with the appointment of Anish Bafna as CEO and Vishal Maheshwari as CFO, positioning Healthium for growth.

"As we look to further strengthen and expand our market position, we are delighted to welcome an investor of KKR’s calibre, who brings deep global healthcare expertise and knowledge of the Indian market," said Bafna.

Founded in 1992, Healthium develops, manufactures and sells a wide range of surgical products globally.