Paris-based private equity firm Keensight Capital has increased its buyout proposal for UK-based medical device maker Niox Group to £322.4m ($417.48m), signalling growing private equity interest in the healthcare sector, according to a report by Reuters.
The revised offer of 81 pence per share – up from the previous 78 pence per share – represents a 23.4% premium to Niox’s closing stock price on 5 March, the day before the company received the improved bid. Following the announcement, Niox shares surged as much as 25% in London trading.
Niox, which specialises in respiratory diagnostic devices, confirmed that it had engaged with multiple interested parties before receiving the revised Keensight offer. While the company has not yet accepted the bid, it signalled a willingness to recommend the deal to shareholders, pending the submission of a firm offer from Keensight.
The move highlights Keensight’s growing focus on the European healthcare sector, where it has made several strategic acquisitions. The firm, which specialises in growth buyouts, sees Niox as an attractive asset given rising demand for respiratory diagnostics and long-term trends in precision medicine.
