OrbiMed lines up 551 million dollar healthcare PE fund for China, India

NEW YORK: OrbiMed, a leading investment firm focused on the healthcare sector, announced the closing of its third Asia-focused private equity fund, OrbiMed Asia Partners III, LP, with approximately $551 million (Rs 3,537 crore) in capital commitments.

Consistent with its predecessor funds, Asia Partners III will invest broadly across the Asian healthcare industry, with a focus on growth stage product- and services-oriented companies in China and India.

The Fund will target investments from $10 million to $75 million per company across 15 to 20 opportunities. Where appropriate, Asia Partners III may co-invest with OrbiMed's global team, enabling substantially larger investments and leveraging the full financial and strategic resources of OrbiMed's 100+ team members and $14 billion global investment platform.

"This new, larger fund reflects our enthusiasm for the investment opportunities in China and India, which have healthcare market growth rates far superior to most developed countries," noted Carter Neild, an OrbiMed General Partner.

"With over half of the world's patient population, the demand for quality healthcare in Asia still greatly exceeds supply," said Jonathan Wang, a Senior Managing Director. "China's healthcare market is not only growing rapidly, but also becoming a leading center of innovation, and is increasingly integrated with the rest of the world, especially the U.S."

"With India still spending less than 5% of its GDP on healthcare and boasting the fastest growth rate of all major economies, we see compelling opportunities for investments across healthcare services, pharmaceuticals, and diagnostics," observed Senior Managing Director Dr. Sunny Sharma, who leads OrbiMed's team in India.

"OrbiMed now has over $2 billion invested in Asian healthcare companies, positioning our team as a strong partner for entrepreneurs, institutions, and companies seeking to shape the future of Asia's healthcare markets," commented Dr. David Wang, a Senior Managing Director.

OrbiMed's Shanghai office was opened in 2007 and is led by Dr. Jonathan Wang and Dr. David Wang. OrbiMed's Mumbai office was opened in 2008 and is led by Dr. Sunny Sharma.