KKR Secures $2.9 Billion Karo Healthcare Acquisition, Outpacing Rivals

KKR Outbids Competitors, Edges Closer to $29B Karo Healthcare Takeover: Report

Private equity giant KKR has reportedly outbid its competitors to take control of Karo Healthcare, a leading provider of medical devices and equipment, in a deal valued at approximately $29 billion.

According to a report by Bloomberg, KKR's winning bid is said to be significantly higher than those submitted by other suitors, including rival private equity firms and strategic buyers. The deal is expected to be announced in the coming days, pending final negotiations and due diligence.

Karo Healthcare, which was founded in 2021, has quickly become a major player in the healthcare industry, with a portfolio of over 100 medical device and equipment products. The company has reportedly attracted interest from a range of buyers, including private equity firms, strategic buyers, and sovereign wealth funds.

The deal would be one of the largest private equity transactions of the year, and would mark a significant milestone for KKR, which has been actively pursuing large-scale investments in the healthcare sector. The firm has already made several notable investments in the space, including a $1.5 billion deal for a stake in medical device maker Stryker in 2020.

The acquisition is expected to be financed through a combination of debt and equity, with KKR's existing investors and new partners providing funding for the deal. The transaction is also expected to be highly accretive for KKR, with the firm set to generate significant returns on its investment.

The deal is the latest in a string of large-scale private equity transactions in the healthcare sector, which has seen a surge in activity in recent months. The sector has been driven by a combination of factors, including the ongoing COVID-19 pandemic, the growing demand for healthcare services, and the increasing importance of digital health technologies.

The acquisition is expected to close in the coming months, pending regulatory approval and other customary closing conditions. A spokesperson for KKR declined to comment on the deal, citing the confidential nature of the negotiations.