Quadria Capital raises US$304m for Asia healthcare investments

Singapore

QUADRIA Capital, one of Asia's largest healthcare private equity groups, has raised US$304 million for healthcare investments in the region, at the close of its third investment vehicle, Quadria Capital Fund LP.

Based in Singapore and New Delhi, India, the private equity firm focuses on making equity investments in high quality and scalable mid-sized healthcare companies in South and South-east Asia, it said in a statement on Tuesday.

The fund's investment strategy targets four key healthcare subsectors: healthcare delivery, life sciences, medical technology, and associated healthcare services.

The fund has completed two investments - in Medica Synergie, the largest hospital chain in eastern India, and SOHO Global Health, one of the largest pharmaceutical manufacturing and distribution businesses in Indonesia. The SOHO deal, concluded in March, was the first private equity deal in Indonesia's fast-growing pharmaceutical industry, the firm said.

Amit Varma, managing partner at Quadria Capital, said: "We are very pleased that several premier institutions with deep healthcare experience have entrusted their capital with us."

There is rising demand in Asia for quality healthcare products and services, driven by an ageing population, affluence, and changing disease patterns, he added. As a result, Quadria Capital sees "exciting opportunities" as it positions its fund to serve the region's healthcare needs, he said.

Another Quadria Capital managing partner, Abrar Mir, said the firm remains focused on achieving its mission of "producing superior returns for our investors and to make positive development impact on local communities".

Although Asia represents more than a third of the world's population and 40 per cent of the global burden of disease, countries in the region spend less than 5 per cent of their gross domestic product (GDP) on healthcare, Quadria Capital said in the statement. However, by 2020, total healthcare spending in Asia is expected to surpass US$3 trillion, which is higher than in the US and Europe today, the firm said.

Its investors include asset managements, development finance institutions, institutional investors, healthcare groups, and family offices from the US, Europe, Asia, and the Middle East. BerchWood Partners LLC acted as the exclusive placement agent for Quadria Capital.