Private equity firms Bain Capital, Partners Group, Advent International and Carlyle Group are in the race to acquire surgical equipment maker Healthium Medtech Pvt. Ltd, which operates under the Sutures India brand, in a deal worth about $425 million (Rs 2,740 crore), Mint reported.
The deal will value the company at $500 million and promoters are looking to retain their stake, the report said, citing two people aware of the development.
Private equity firm TPG owns a little above 73% stake in Healthium and CX Partners holds 12%.
Healthium Medtech was earlier known as Sutures India Pvt. Ltd. Founded in 1992, the Bangalore-based company makes absorbable as well as non-absorbable sutures, besides surgical meshes, gloves and paper tapes, as well as two-way Foley catheters.
It recorded total income of Rs 371 crore, and profit after tax and minority interest of Rs 33 crore in 2015-16.
In another report, The Economic Times reported that US-based private equity giant Carlyle Group is set to acquire healthcare solutions provider Visionary RCM Infotech India Pvt. Ltd for Rs 420 crore ($65 million).
Citing three people aware of the development, the report said that Visionary’s promoters and a venture capital investor will exit the company as part of the deal.
Founded in 2006, the company is based out of Chennai. It provides integrated revenue cycle management services to the healthcare clients, according to its website.
In 2015-16, the company’s total income was Rs 139.7 crore and profit after tax was Rs 53 crore.
In 2010, NEA IndoUS Venture Capital had invested Rs 15 crore in the company.
IndoUS Venture Capital was rebranded as Kalaari Capital in 2012. US-based New Enterprise Associates (NEA) had partnered with IndoUS Venture Partners for the first fund.