Mumbai: Anish Bafna, CEO and Managing Director of KKR-owned medical gadgets firm Healthium Medtech, has stepped down from his government role and can transition to the place of non-executive chairman, in accordance to individuals accustomed to the event.
The corporate is anticipated to appoint a brand new chief government throughout the subsequent month. Bafna will play an energetic role within the choice and onboarding of his successor as a part of a deliberate management transition, the sources stated.
Bafna joined Healthium, previously often called Sutures India, in 2018 after non-public fairness agency Apax Companions acquired the corporate. In 2024, KKR acquired Healthium for about ₹7,000 crore following a aggressive bidding course of that additionally concerned a consortium comprising Mankind Pharma, ChrysCapital, and Novo Holdings, the controlling shareholder of Danish pharmaceutical large Novo Nordisk.
In accordance to regulatory filings, Bafna continues to maintain a 0.22% stake within the firm, whereas Quinag Acquisition (FDI) Ltd., Healthium’s holding firm, owns 99.25%. KKR acquired Quinag from Apax as a part of the transaction.
Prior to becoming a member of Healthium, Bafna served as President, Japan, at Baxter Healthcare and has greater than 25 years of expertise in healthcare operations and basic administration.
A spokesperson for KKR declined to remark.
In accordance to Tracxn information, Healthium’s income elevated from ₹589 crore in FY19 to ₹870 crore in FY25.
Whereas profitability remained sturdy between FY19 and FY22, with revenue after tax ranging between ₹37 crore and ₹85 crore, earnings weakened considerably lately. PAT declined to ₹37 crore in FY24 and slipped right into a lack of ₹38 crore in FY25, due to one-time prices related to Apax Companions’ sale of the enterprise to KKR, stated sources.
Based in 1992, Healthium manufactures and markets a broad portfolio of surgical and medical consumables, together with absorbable and non-absorbable sutures, surgical meshes, tapes, pores and skin staplers, ligation clips, surgical gloves, catheters, and tubular bandages.
The corporate operates throughout 4 key product classes—superior surgical procedure, minimally invasive options, medical consumables, and needles—and is among the many world’s largest producers of surgical sutures and needles.
Healthium exports to greater than 90 international locations throughout Europe, South America, Africa, and Asia, with exports accounting for 48.5% of income in FY25.
Underneath Bafna’s management, the corporate expanded its product portfolio and strengthened its market presence by way of a collection of acquisitions.
In 2021, Healthium acquired the gelatin sponge enterprise of Sri Gopal Krishna Labs and subsequently bought CareNow Medical, a producer of superior wound administration and an infection prevention merchandise.
In December final yr, the corporate acquired a controlling stake in Paramount Surgimed Ltd., a number one producer and exporter of surgical blades, scalpels, and dermal biopsy merchandise.
The Indian surgical merchandise market continues to be dominated by Johnson & Johnson’s Ethicon model. Healthium additionally faces competitors from each multinational and home gamers throughout a number of product classes, limiting pricing flexibility and constraining margins, in accordance to a latest ICRA report.
The home surgical merchandise market skilled a slowdown throughout the second half of FY25 and the primary half of FY26, affecting trade development and impacting Healthium’s income momentum, it stated.
Nonetheless, the medtech trade has a number of entry limitations akin to requirement of a robust distribution community, technical experience, product acceptance amongst medical practitioners, which require numerous certifications and take a substantial time for any new participant to obtain, it stated.
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