Apax Global Alpha Limited (AGA) has announced that an affiliate of the Apax IX Fund, in which AGA is a limited partner, will sell its controlling interest in Healthium MedTech Ltd. This transaction values AGA's look-through investment in Healthium at approximately €22.7M, representing an uplift of c.23% to the last Unaffected Valuation and an uplift of c.€4.3m in the Adjusted Net Asset Value of AGA at 31 March 2024. The transaction is expected to close in Q3 2024, subject to regulatory approvals.
Healthium, founded in India in 1992, is a medical devices company that develops, manufactures, and sells a broad range of surgical products globally. The company was acquired by the Apax Funds in 2018 and has since been transformed into a global medical devices leader. With the support of the Apax Funds, Healthium expanded its presence from 50 countries to more than 90 today.
AGA, listed on the London Stock Exchange, provides investors with access to the Apax Private Equity Funds and a smaller portfolio of mostly debt investments. In 2016, AGA made a commitment of c.€317m to Apax IX. For more information about the transaction, visit the Apax website.
Please note that the figures mentioned relate to AGA's look-through position of Apax IX's overall investment in Healthium and are stated before taking into account any closing adjustments, fees, costs, and carried interest, and are translated based on the latest exchange rates available where applicable.