PriestleySoundy is advising Paul Cook (CEO) and his Senior Management Team in connection with the acquisition of a majority stake in Clinisupplies by KKR, to accelerate growth and help build a leading international chronic care medical devices platform.
The transaction is expected to close in January 2023. Financial terms are not being disclosed.
Clinisupplies is among the UK’s leading providers of medical devices and is the UK division of Healthium. It employs over 400 people in the UK, China and India.
In April 2018, it was announced that Apax had agreed to buy a controlling stake in Healthium from existing shareholders TPG Growth, CX Partners and the founding shareholders.
Apax is a leading global private equity advisory firm. For 50 years, Apax has worked to inspire growth and ideas that transform businesses. The firm has raised and advised funds with aggregate commitments of more than $60bn.
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR is investing in Clinisupplies through KKR Health Care Strategic Growth Fund II, a $4bn fund focused on investing in high-growth health care companies. KKR has a long track record of supporting health care companies globally, having invested approximately $17bn in the sector since 2004.
Apax (and the selling shareholders) are being advised by Kirkland & Ellis and KKR is being advised by Gibson Dunn & Crutcher.
6 December 2022