Singapore's Quadria Capital to invest US $304 million in Asian healthcare

SINGAPORE:A Singapore-based private equity firm would invest one-third of its recently raised US $304 million in the South Asian healthcare sector.

Quadria Capital has already invested in Medica Synergie, a hospital network in eastern India.

Dr Amit Varma, managing director of Quadria, pointed out that India spends less than two per cent of the gross domestic product on healthcare.

"That's where private money comes into play. It can help contribute to better and, more importantly, more effective healthcare system across the region," he said.

He also highlighted the potential of exporting Singapore expertise, noting the access to talent, manpower, technology and cutting-edge medicine.

"Exporting these learnings to our investments can help change the way medicine is practised across the region," The Straits Times was quoted as saying by Varma.

The Quadria investors include the International Finance Corporation of the World Bank, government institutions from Europe and the Middle East as well as institutional investors and family offices.

Two-third of the US $304 million would be invested in South East Asian healthcare sector.

The raised fund, Quadria's third, will be channeled towards "high-quality and scalable mid-sized healthcare companies" that can cater to the masses at affordable prices.

These include businesses with a focus on hospital services and pharmaceuticals.

Quadria's other recent investment is SOHO Global Health, one of the largest pharmaceutical manufacturing and distribution businesses in Indonesia.

It is targeting annualised returns of about 25 per cent. "Healthcare (in Asia) is a sector that is going through a tremendous amount of change and is showing tremendous promise," Abrar Mir, another managing partner said.

Total healthcare spending in Asia is projected at US $4. 5 trillion by 2030, more than that of the United States and Europe combined.