KKR buys Clinisupplies to build chronic care medical devices platform

Rachel Lewis
06 December 2022

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KKR has acquired UK-based Clinisupplies as part of a carve-out from Apax Partners' India-based Healthium to kickstart an international chronic care medtech platform.

The US sponsor is investing via its Health Care Strategic Growth Fund II, which closed in January on USD 4bn to invest in Europe and North America.

Clinisupplies is a relatively small deal for KKR, recording GBP 28m in the year to 31 March 2022 with an EBITDA of GBP 3.7m. The private equity firm said, however, that it will support organic and inorganic growth to collect devices and expand the broader chronic care portfolio.

To this end, the sponsor has installed as Clinisupplies' chairman Claus Bjerre, former CEO of Sweden's neck stoma products maker Atos Medical and North America President of continence products group Coloplast.

The company's CEO, Paul Cook, said in a statement that the new investment and expertise would help expand into new products and geographies.

The deal is also a partial exit for UK-based Apax Partners as Clinisupplies is the UK-division of India-based Healthium Medtech, which it acquired from TPG Growth in 2018.

Company
Clinisupplies manufactures and distributes continence care products, including urinary collecting devices and catheters. Its products are supplied to hospitals and pharmacies, while also available for delivery to patients directly through its home delivery services." Clinisupplies is headquartered in Watford, London, and employs over 400 employees.

Advisors

KKR – Houlihan Lokey (financial advisor), Gibson, Dunn & Crutcher (legal), PWC (financial and tax) and BCG (commercial).