Apax Partners-backed Co acquires India ’ s Healthium MedTech

Apax Partners said today that Quinag Acquisition, which is backed by funds advised by Apax, inked a deal to acquire India’s Healthium MedTech Private Limited, formerly known as Sutures India, in a deal worth approximately $350 million. A controlling stake in the company was acquired from existing shareholders TPG Growth, CX Partners and its founding shareholders, according to a press release from Apax. “TPG Growth has invested in a significant number of healthcare provider businesses around the world, from urgent care clinics and travel nurse staffing in the United States to world-class cancer clinics and specialty mother and child centers in India. Thematically, we have always been focused on investing behind companies that offer high-quality products and services with a focus on value. From the time we invested five years ago, Healthium has always delivered extremely well on that quality-cost equation. 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 in a prepared statement. Healthium produces medical devices and consumables including wound closure devices, endo surgery and arthroscopy devices and consumables and urology products. Key brands produced by Healthium include Trusynth, Truglyde, Trubond and Sironix. The newly acquired company distributes it devices to more than 10,000 ...
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News Mergers & Acquisitions Apax Partners healthiummedtech Source Type: news