Healthium Medtech, a global player in medical devices, has acquired the AbGel gelatin sponge business from Mumbai-based SGK Labs.  AbGel is a recognized brand in the gelatin sponge category and has been used in India since 1980. It is a market leader in this category and is used in various surgical applications.

SGK Labs, has its head office in Mumbai and has state-of-the-art facilities and is renowned for its quality and has been a preferred partner for leading hospitals and medical professionals across India. Healthium aims to further expand the market access of this brand using its wide network of hospitals across India. It will also add to its product portfolio focusing on surgical and post-surgical care.

Healthium, with a lineage of over 35 years is completely owned by British private equity firm Apax Partners LLP. Healthium’s product portfolio includes surgical sutures, needles, a patented arthroscopy portfolio, a urology portfolio, hernia meshes, haemostats, gloves, ligation clips, surgical staplers and other wound closure devices. It holds or has applied for 60 patents in India and U.S.

Mr Viral Parekh, Managing Director - SGK Labs says: “AbGel has been the leading and most trusted brand of haemostatic sponges and is a natural fit for Healthium’s vast product portfolio. Under Healthium’s management, I am confident that AbGel shall have a wider market reach in the ever-growing medical devices segment.”

On the other hand, Mr Anish Bafna, CEO and MD, Healthium Medtech, said, “Hemostasis during surgical procedures is an area of concern for surgeons. We are excited to add a brand like AbGel that has become synonymous with the gelatin sponge category and has been contributing to safer surgeries for over 4 decades. This acquisition strengthens our presence in the category and our commitment to drive value for our customers. We look forward to combining Healthium’s R&D and manufacturing capabilities with the talent and expertise brought by AbGel’s team as we expand access to precision Medtech for patients, globally.”

Wodehouse Capital Advisors was the sole advisor to SGK Labs for the transaction, whereas Khaitan & Co acted as the legal counsel for the sellers.