OrbiMed, an investment firm focused on the healthcare sector, has closed its third Asia-focused private equity fund, OrbiMed Asia Partners III, LP, with approximately USD551 million 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 USD10 million to USD75 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 USD14 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,” says 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,” says Jonathan Wang, a Senior Managing Director. “China’s healthcare market is not only growing rapidly, but also becoming a leading centre of innovation, and is increasingly integrated with the rest of the world, especially the US.”
“With India still spending less than 5 per cent 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,” says Senior Managing Director Dr Sunny Sharma, who leads OrbiMed’s team in India.
“OrbiMed now has over USD2 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,” says Dr David Wang, a Senior Managing Director.
