Sapphiros Emerges as Strategic Diagnostics Venture Between KKR and Healthcare Executive Namal Nawana

KKR, one of the world’s most prominent alternative investment firms, has partnered with Namal Nawana, a seasoned healthcare leader who previously headed Smith & Nephew and Alere, to establish Sapphiros—a specialized platform focused on advancing next-generation diagnostic technologies.

The Vision Behind Sapphiros

The newly formed Sapphiros platform represents a strategic commitment to identifying, nurturing, and scaling innovative diagnostic companies. Through this collaborative framework, KKR and Nawana will combine their operational expertise and financial resources to support a curated portfolio of diagnostics firms positioned at the forefront of technological innovation. Nawana will assume the role of Executive Chairman at Sapphiros.

Leadership Credentials

Nawana brings more than two decades of healthcare industry experience to the table. During his tenure as CEO of Smith & Nephew, he restructured operations and generated approximately $7 billion in shareholder value. Earlier, as Alere’s chief executive, he transformed the organization into a global leader in rapid diagnostic solutions, ultimately leading to the company’s acquisition by Abbott for over $8 billion in 2017.

“I cannot think of better strategic partners than KKR and its accomplished health care team,” Nawana commented. “Their depth of knowledge in the space and approach to collaboration have driven our shared commitment to investing in the transformational potential of next-generation diagnostic technologies.”

KKR’s Healthcare Investment Track Record

For KKR, this initiative is being supported through its Health Care Strategic Growth strategy, a dedicated fund aimed at backing high-expansion healthcare companies where KKR can provide distinctive operational and strategic advantages. Since 2004, KKR has deployed approximately $14 billion across the healthcare sector, establishing significant expertise in scaling medical innovators.

Ali Satvat, Global Head of Health Care Strategic Growth and Co-Head of Americas Health Care Private Equity at KKR, stated: “Over the past several years, we have admired Namal’s strategic and operational talents, as well as his entrepreneurial instincts. We look forward to working together to support innovative diagnostic technologies for the tangible benefit of patients globally.”

Initial Portfolio Acquisitions

Sapphiros has already moved forward with its first major investment decisions. The platform has acquired Biocrucible, a UK-based molecular diagnostics company founded by Niall Armes that specializes in isothermal amplification methods for point-of-care and disposable diagnostic applications. Additionally, Sapphiros has secured a substantial equity position in GrapheneDx, a consumer diagnostics firm that has pioneered graphene sensor-based technology for at-home and near-patient testing across multiple analyte types.

“As the era of sophisticated at-home and near-patient testing rapidly expands, particularly following the global pandemic, new technologies are required to respond to consumers’ unmet needs. We established Sapphiros not only to identify and invest in these new technologies but also to help deliver them at scale,” Nawana explained. “As Sapphiros’s first two partnerships, Biocrucible and GrapheneDx represent revolutionary technologies, and we are excited to help accelerate their growth.”

Positioning for Scaled Impact

Sapphiros aims to bridge the present and future of diagnostics by concentrating on patient-centric and technology-driven solutions. The platform supports growth-stage diagnostic enterprises led by exceptional entrepreneurs, equipping them with comprehensive access to capital, operational expertise, and resources needed to drive expansion and market impact.