IFC plans to invest 200-300 million dollars in healthcare sector
Source : PTI
The World Bank's private lending arm International Finance Corporation (IFC) is exploring the possibility of investing $200-300 million in Indian healthcare, pharmaceutical and medical devices space in the next one year.
Henrik Elschner Pedersen, IFC's senior manager (Consumer and Social Services Asia), when asked about IFC's investment plans in Indian healthcare sector in the next one year, told PTI that it is envisaging to invest " 200 to 300 million dollars."
The proposed investments are targeted at healthcare, pharmaceutical and medical devices space, Pedersen said.
Chris McCahan, IFC Chief Investment Officer, Global Health, said the corporation is in talks with different healthcare companies in India, but the details would be announced once it reaches a 'serious stage'.
"I think our portfolio is about $400 million in India in the healthcare space. We have invested in many of the large scalable groups such as Apollo, Max healthcare, Fortis healthcare and then we also have worked with a number of pharmaceutical companies," McCahan said.
"So, we are looking for pharmaceutical companies that can manufacture low-cost drugs mainly generics and APIs. So, we worked with likes of Glenmark and Jubilant in India," McCahan said.
The priority in investments for the IFC is to get profit on its investment and also have a development impact in the country, he said.
"Ultimately, we wear two hats. One is, looking for to get profit from our investments for the risk we have taken. Second is for developmental institutions. So, we are looking for investments that can have a developmental impact within the country we are working, in this case in India," McCahan added.