Private equity firm Apax Partners backed medical devices player Healthium Medtech (formerly Sutures India) is planning to launch an initial public offering (IPO) this year, Moneycontrol said citing people in the know.
The firm is the largest maker of surgical needles in the global market by volume and is one of the largest manufacturers of surgical sutures (surgical and wound closure products) in India.
“Healthium Medtech is planning to raise between $300 million and $400 million via the proposed listing, valuing the company at around $ 1 billion. They have finalised four investment banks,” said one of the persons cited above, the report said.
