ChrysCap, Carlyle, General Atlantic circle Healthium

Leading investors, including General Atlantic, ChrysCapital and Carlyle, are looking to acquire medical sutures maker Healthium Medtech Ltd, three people aware of the development said.

- Ranjani Raghavan & Sneha Shah

The Apax Partners-owned company, earlier called Sutures India, has appointed investment bank Jefferies to run the process, the people said on the condition of anonymity, adding a deal may value the business at $750-850 million.

The sale plans come after Healthium's plans for a public issue did not take off. In November 2021, the company secured approval from the Securities Exchange Board of India for a ₹1,500 crore initial public offering. The approval expired in 2022 and the company did not refile its papers.

"The idea is to sell the company through a 100% stake sale," the first person said, adding global and domestic private equity funds along with their limited partners are looking at the acquisition.

"It is very early days. The deal is still a long shot," the second person added.