Apax Partners, through its affiliate Quinag Acquisition (FDI), has agreed to purchase a controlling interest in India-based Healthium MedTech from existing shareholders TPG Growth, CX Partners and founding shareholders.

Terms of the deal, which is subject to customary approvals, have not been disclosed.

Healthium, earlier known as Sutures India, is engaged in the manufacturing and marketing of various medical devices, including wound closure products and minimally invasive products and urology products.

Established in 1992 and based in Bangalore, Healthium produces its products under brands such as Trusynth, Truglyde, Trubond and Sironix.

Healthium operates five manufacturing facilities in the country to produce surgical sutures, staplers, suturing needles, surgical gloves and minimally invasive solutions such as endo surgery and arthroscopy consumables.

The deal will allow Healthium to further enhance its presence in the Indian market and expand its portfolio of specialty medtech products.

Healthium supplies its products to large and corporate hospitals, nursing homes, and government hospitals and institutions. The company serves more than 10,000 hospitals across the country..

Healthium exports its products to the customers in more than 50 countries, including the US, France, Germany, Italy, Switzerland, Brazil, Mexico, GCC countries, Egypt, Turkey and several Asian countries.

The firm’s Clinisupplies division supplies urology products in the UK. Healthium also introduced a portfolio of wound closure products under the Q-Close brand.

Apax's stake acquisition in Healthium marks the second investment in the healthcare sector for the Apax Funds in India following the investment in Apollo Hospitals.

Apax Partners partner and India office head Shashank Singh said: “Healthcare is a key focus area for Apax in India given secular tailwinds 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.”

Image: Apax Partners to acquire Healthium MedTech. Photo: courtesy of adamr / FreeDigitalPhotos.net.