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Apax sells Mölnlycke to Investor AB, Morgan Stanley in €2.85bn deal26/01/2007. Source: AltAssets. 
 Apax Partners has sold Swedish medical products company Mölnlycke Health Care Group to Investor AB and Morgan Stanley Principal Investments for €2.85bn. Sources close to the deal said that Apax will make a return of 'quite a bit above ten times' its original investment.
MHCG, with production facilities in Asia and Europe, manufactures and markets single-use wound care and surgical products for the healthcare sector.
In 2003 the Apax healthcare team identified a strong fit between the wound care and surgical businesses owned by SSL International and the wound care and surgical businesses that made up Mölnlycke, Apax said in a statement. Apax acquired the wound care division of SSL International (later re-named Medlock Medical) in March 2004 and the surgical gloves unit (Regent Medical) in June 2004. The firm then successfully bid in the auction for Mölnlycke and acquired the business in June 2005. The three businesses were merged in August 2005 to form MHCG.
Ian Jones, partner and head of the healthcare team at Apax, said, 'This has been a very successful deal for all involved and exemplifies the Apax Partners strategy. Our knowledge of the healthcare sector allowed us to identify a consolidation opportunity in the consumable medical products area, and we are proud to have helped create this unique group. The success of the strategy is due to the hard work and dedication of the management team and employees, and the company is now a global leader in its space.'
Other buy-out groups that reportedly took part in the auction of Mölnlycke Health Care Group included Blackstone and Clayton, Dublier & Rice.
Apax focuses on investments in the tech and telecom, retail and consumer, media, healthcare, and financial and business services sectors.
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