Apax Partners-backed Healthium snaps up UK urology consumer products firm

 Apax Partners-backed Healthium snaps up UK urology consumer products firm

Medical devices maker Healthium Medtech Pvt. Ltd has acquired the UK-based VitalCare Group, a company that manufactures urology consumable care products.

Bengaluru-based Healthium routed the acquisition through its subsidiary Clinisupplies, it said in a statement. The company did not disclose the financial terms of the transaction.

VitalCare managing director Lewis Calcutt will continue to work for the company. Calcutt has been with VitalCare for nearly two decades and will remain focussed on building its global presence and create a differentiated product portfolio, Healthium said.

VitalCare’s takeover will help Healthium add value to its manufacturing capabilities in urology, and boost its in-house research and development (R&D).

“Given the rapid changes we are witnessing in the global healthcare system, the time is right for both companies to join forces and take on the larger market opportunity. The acquisition will help us expand our footprint in Europe and the US,” said Clinisupplies chief executive officer Paul Cook.

Healthium, formerly known as Sutures India, is controlled by buyout firm Apax Partners. The London-based private equity firm had acquired a controlling stake in Healthium three years ago from its erstwhile shareholders TPG Growth, CX Partners and the company’s founding shareholders.

Founded in 1992, Healthium makes medical devices and consumables such as surgical sutures, needles, arthroscopy and urology products, hernia meshes, haemostats, gloves, ligation clips, surgical staplers and other wound closure producs.

The company holds 60 patents in India and the US (including those under process). It operates through six manufacturing locations and employs more than 2,600 people across India and the UK.

The company has presence in over 80 countries, including the US, France, Germany, Italy, Switzerland.

According to media reports, Healthium is looking to go public by the end of the current calendar year. It is said to have appointed Credit Suisse, ICICI Securities, Nomura and CLSA to arrange the initial public offering. The IPO may comprise a small primary offering and a bulk of it may be a secondary share sale by Apax Partners.

Ankit Doshi

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