KKR is to acquire Clinisupplies, a specialist in continence care products in the UK, from Healthium. Financial details of the transaction, which will see Clinisupplies’ existing management team continue to hold a minority position in the business, have not been disclosed.
KKR is investing in Clinisupplies through KKR Health Care Strategic Growth Fund II, a $4.0 billion fund focused on investing in high-growth health care companies. KKR has a long track record of supporting health care companies globally, having invested approximately $17 billion in the sector since 2004.
Claus Bjerre, KKR Senior Advisor and former Chief Executive Officer of Atos Medical AB and former President, North America, of Coloplast, will serve as Chairman of Clinisupplies’ Board of Directors, where he will draw on his extensive sector experience and help guide the group on its future growth. Industry veteran Douglas Le Fort, who brings over 20 years of senior executive leadership experience, including as an Executive Committee Member at ConvaTec Group, will also join the Board of Directors.
KKR was advised by Houlihan Lokey (financial advisor), Gibson, Dunn & Crutcher LLP (legal counsel), PWC (financial & tax) and BCG (commercial).