Novo Holdings A/S has joined the race for Healthium Medtech Limited, said people aware of the matter. Novo Holdings is the latest challenger in a hotly contested bidding process for Healthium, 99.8% owned by Apax Partners. Buyout funds KKR & Co.

Inc. (NYSE:KKR), Hillhouse Investment Management, Ltd., EQT AB (publ) (OM:EQT), Blackstone Inc. (NYSE:BX) and TA Associates Management, L.P. among others have already been shortlisted after the initial rounds, ET reported on March 11. Novo Holdings' foray is expected to exacerbate competition for Healthium, which has been valued by rival bidders at INR 65,000 to INR 70,000 million. Due diligence for the company is underway.