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KKR has officially closed its investment in Clinisupplies, a leader in continence care products in the UK, acquired from Healthium. This strategic partnership aims to leverage KKR's global network and expertise to expand Clinisupplies' portfolio and market reach in chronic care. Key appointments to the Board of Directors include Claus Bjerre, Douglas Le Fort, and Oliver Johansen, who bring significant industry experience. KKR's investment comes from its $4 billion Health Care Strategic Growth Fund II, reinforcing its commitment to supporting high-growth healthcare firms.
Positive
KKR's investment of $4 billion from its Health Care Strategic Growth Fund II indicates strong financial backing for expansion.
Strategic appointments to the Board of Clinisupplies enhance leadership with industry veterans, likely improving operational performance.
The partnership aims to expand Clinisupplies' product offerings and geographical reach, which could lead to increased market share.
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KKR to support organic and inorganic growth to enhance Clinisupplies’ leadership position in collecting devices and expand its broader chronic care portfolio
Oliver Johansen, former Senior Vice President, Global Research and Development at Coloplast, to join KKR Senior Advisor and former Chief Executive Officer of Atos Medical AB, Claus Bjerre, and industry veteran, Douglas Le Fort on Clinisupplies’ Board of Directors
LONDON--(BUSINESS WIRE)--
KKR, a leading global investment firm, announced today the closing of KKR’s previously announced investment in Clinisupplies, a market leader in continence care products in the UK, from Healthium.
In addition to Claus Bjerre, KKR Senior Advisor and former Chief Executive Officer of Atos Medical AB and former President, North America, of Coloplast, who will serve as Chairman of Clinisupplies’ Board of Directors, and industry veteran Douglas Le Fort, who brings over 20 years of senior executive leadership experience, including as an Executive Committee Member at ConvaTec Group, the Board will be complemented by Oliver Johansen, formerly Senior Vice President, Global Research and Development at Coloplast.
Paul Cook, CEO of Clinisupplies, commented: “We are thrilled to form this strategic partnership with KKR, and to be welcoming Claus, Douglas and now also Oliver to our Board. With KKR’s global network and market knowledge, and with this strong suite of industry advisors, we will be able to expand into new products and geographies, helping to support more and more people and bringing us one step closer to our goal of becoming an international leader in the chronic care market.”
Oliver Johansen commented: “I could not be more excited to join the Clinisupplies Board and support the company on its ambitious growth journey. I look forward to working together with KKR, Claus, Douglas and Clinisupplies’ impressive Management team, as the company enters this next phase of growth.”
KKR invested 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 $19 billion in the sector since 2004.
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About KKR
KKR is a leading global investment firm that offers alternative asset management as well as capital markets and insurance solutions. KKR aims to generate attractive investment returns by following a patient and disciplined investment approach, employing world-class people, and supporting growth in its portfolio companies and communities. KKR sponsors investment funds that invest in private equity, credit and real assets and has strategic partners that manage hedge funds. KKR’s insurance subsidiaries offer retirement, life and reinsurance products under the management of Global Atlantic Financial Group. References to KKR’s investments may include the activities of its sponsored funds and insurance subsidiaries. For additional information about KKR & Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com and on Twitter @KKR_Co.
About Clinisupplies
Clinisupplies is a leading UK-based manufacturer and supplier of medical appliances specialising in continence products for managing acute and chronic conditions. The company also offers a portfolio of bandages and garments for the treatment of wounds and chronic skin conditions. Employing over 400 people in the UK, China and India, Clinisupplies supplies its products to the NHS and delivers direct to patients’ homes through Clinidirect, its dispensing appliance contractor.
Clinisupplies is focused on developing products which are simple and discreet to use. Its product development team works with clinicians and patients to develop a strong product pipeline to be manufactured at its CE, ISO, US FDA approved facilities.
