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Apax-owned sutures maker Healthium to go for Rs.2,000-Cr IPO

Economic Times  

Bengaluru-based Healthium (formerly Sutures India), India's second largest medical consumables and surgical sutures company, is aiming to raise INR 1,500-2,000 crore through an initial public offering by the end of 2021, valuing the company at about INR 7,500 crore. At least three investment banks including Credit Suisse, Nomura and ICICI Securities are likely to be hired for running the process. British private equity fund Apax Partners holds 99.8 % of Healthium. The fund had acquired the stake in 2018 from TPG Growth, CX Partners and its founding shareholders for about INR 1,950 crore. TPG Growth owned around 73% in Healthium, while CX Partners held 12%. The rest was with the promoters.