Healthium Medtech said it has inked a pact to sell its UK-based subsidiary to global investment firm KKR for an undisclosed amount.
The company has entered into a definitive agreement to sell Watford-based Clinisupplies to KKR, which is investing through its KKR Health Care Strategic Growth Fund II, according to a statement.
The company will re-invest the proceeds from the transaction to strengthen its portfolio in advanced surgery, wound care, orthopaedics, and post-surgical care through organic and inorganic routes, it added.
Clinisupplies was acquired by Healthium in 2016 and has a strong portfolio of products in continence care.
Healthium said it will continue to remain in the UK through its surgical consumables portfolio.
“The divestment of Clinisupplies is a strategic decision in line with our business priorities and gives a solid impetus to our vision of facilitating precision medtech for every patient globall,” Healthium Medtech CEO and MD Anish Bafna stated.
The company will continue to strengthen and expand its growing product portfolios in the surgical and the post-surgical space through innovation, strong R&D and inorganic investments, he added.
Healthium Medtech has a diverse portfolio of medical devices and consumables, which includes surgical sutures, needles, a patented arthroscopy portfolio, patented wound care portfolio, hernia meshes, ligation clips, surgical staplers and other wound closure devices.
Currently, the company has eight manufacturing facilities across India.
Source: Business-Standard