Global private equity major KKR & Co. Inc. (NYSE:KKR) and pharma major Novo Nordisk A/S (CPSE:NOVO B) have submitted final bids to acquire surgical sutures firm Healthium Medtech Limited, three people with knowledge of the development said on condition of anonymity. A third, joint bid has come from India-focused PE firm ChrysCapital and Mankind Pharma Limited (NSEI:MANKIND.

The bids submitted have valued Bengaluru-headquartered Healthium at up to INR 65.00 billion, the people cited above said. The company is 99% owned by global PE fund Apax Partners LLP. "The final binding bids came in on May 1, 2024 night," the first person cited above said.

"There were only three final bids from PE and strategic investors." "While KKR and Novo Nordisk have put in separate bids, ChrysCapital has bid along with Mankind Pharma," the second person cited above said. For KKR, which already acquired Healthium's UK business last year, it is an extension of its belief in the segment. Novo Nordisk and Mankind Pharma are taking a strategic call on the growth in the segment and a natural adjacent category to the businesses they are already in, the third person cited above said.

Spokespersons for Healthium Medtech, Apax Partners, ChrysCapital, Mankind Pharma, and Novo Nordisk did not respond to emailed queries. A spokesperson for KKR declined to comment.