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PEs put $400 Mn bet on health sector last year
By siliconindia
New Delhi: It seems that private equity (PE) firms express increasing interest in investing in India's pharma, healthcare sector, seeing a value in picking up small stakes in these segments. Last year has witnessed at least two dozen such deals, worth about $400 million (or Rs 1,600 crore) happening in this sector, reported Business Standard.
Though less in size when compared to that in sectors like real estate or infrastructure, the size of the investment is indicative of the active interest by some 20 PE firms in India?s pharma and healthcare sectors.
Reflecting the trend, ICICI Venture had last week announced the acquisition of substantial stake in Sahyadri Hospitals for $35 million (Rs 140 crore).
"We are certainly looking at buyout opportunities in the domestic pharmaceutical space this year," said Sanjiv Kaul, Managing Director, Chryscapital. "We can bring in smart capital, world class teams and facilitate international collaborations through partnerships."
Last year, Chryscapital picked up a minority stake in Delhi based Mankind Pharma for $24 million (Rs 95 crore). It was followed by International Finance (IFC) with a decision to invest $69.77 million (Rs 280 crore) in healthcare major Max India. Apax Partners' $104 million (Rs 415 crore) deal with Apollo Hospital Enterprise was the other one in 2007.
Bangalore based Avestha Gengraine Technologies was the favorite for many PE firms last year. International players like Fidelity International, Groupe Limagrain, Daninvest, Jacob Ballas Capital and New York Life Investment Management India Fund invested in this company in 2007.
"India bound private equity investments have seen a quantum jump with investments worth more than $17 billion (Rs 68,000 crore), a more than 100 percent increase," said Rishi Sahai, Director, IndusView Advisors, an India focused cross-border transaction and financial services firm.