Apax Partners owned Healthium Medtech Pvt Ltd (formerly Sutures India) on Wednesday said it has purchased VitalCare Group, a UK based manufacturer of urology consumable care products.
The acquisition will help Healthium boost its urology franchise in Europe and other developed markets, it said in a statement without disclosing financial details.
The acquisition was made through Healthium's Clinisupplies Ltd.
VitalCare has manufacturing operations in China. Lewis Calcutt, managing director of VitalCare, will continue with the company.
Anish Bafna, managing director and CEO of Healthium, said the acquisition will bring together global talent, diverse cultures, differentiated expertise and strengthen product portfolio.
In an interaction with VCCircle last year, Bafna had said that Healthium was looking to expand through tie-ups with companies inclined towards research and development.
"Healthium is trying to identify companies with Rs 25-100 crore in annual revenues for tie-ups," he had said.
Apax Partners had acquired a controlling stake in Healthium in 2018 from existing shareholders including TPG Growth, CX Partners and founding shareholders.
Last month, Moneycontrol reported that Healthium is preparing to launch an initial public offering (IPO) this year.
