• India has the highest number of USFDA-approved plants outside USA 

  • Indian healthcare market is the world's second-fastest growing with a market of US$65 billion growing at 15% CAGR 

  • India's medical tourism sector is growing at a rate of 30%, making it a $2 billion industry by 2015. 

Portfolio

 

The illustrative examples from the portfolio are as under:

Intas Biopharmaceuticals Ltd.

Intas Biopharmaceuticals, set up in year 2000 originally as an independent biotechnology company, is presently merged with the parent company Intas Pharmaceuticals Ltd. It was India's first biotechnology company to receive European Union- Good Manufacturing Practice (EU-GMP) certification for its manufacturing facility in 2007.

Presently, Intas Biologics has an extensive product portfolio of biosimilars across microbial and mammalian cell culture. Its products include Neukine® (GCSF), Erykine® (EPO), Intalfa® (IFN), Pegasta® (Peg GCSF), Terifrac® (Teriparatide), Mabtas® (Rituximab), Folisurge® (FSH). In addition to the EU-GMP, the facilities are presently approved by various other regulatory agencies such as ANVISA, GCC, MCC, Indonesia, etc.

Industry             : Pharmaceuticals

Transaction Date : May 2010

Exit Date            : October 2010

Website             : http://www.intaspharma.com/

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Novalead Pharma

Our first and early stage USD 3.5Mn bet in Novalead's novel drug discovery platform has worked to address life threatening and global unmet medical conditions like diabetic foot ulcers (DFU) and psoriasis. The outcome is a late-stage DFU asset with global Intellectual Property grants which has reached Phase III status with just under USD 7Mn funds utilized. Novalead is presently at an inflection point with other candidates progressing ahead and readying itself for a monetization strategy.

Industry             : Pharmaceuticals

Transaction Date : August 2010

Website             : http://www.novaleadpharma.com

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Amanta Healthcare Limited

In 2012 we invested USD10 Mn in sterile manufacturer Amanta which pioneered the launch of branded sterile fluids in India. ¿Steriport¿, with its superior product profile, enabled ease of drug delivery over existing ones with better health outcome for patients. Amanta also exports sterile formulations to over 77 emerging markets thereby improving accessibility of drugs to underpenetrated markets. Over the years, Amanta has invested in female skill development programs, who comprise large part of its employee base.

Industry             : Pharmaceuticals

Transaction Date : December 2012

Exit Date            : December 2017

Website             : http://amanta.co.in/

 

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Sandor Nephro Services Pvt. Ltd

In 2014, we invested USD 3Mn in Sandor Nephro to bridge the sheer under-penetration of dialysis services in the country. Over the course of 3 years of our investment, Sandor has added 50+ centers with 300 beds across 12 states improving accessibility of dialysis care in tier II & III locations at an affordable price-point. When we exited the business three years later to global dialysis provider, Fresenius Medical, Sandor had grown to become the second largest dialysis chain in the country.

Industry             : Single Specialty Healthcare Delivery

Transaction Date : March 2014

Exit Date            : September 2016

Website             : http://www.sandor.co.in

 

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Lokmanya Hospitals Pvt. Ltd

We worked with Lokmanya Hospitals, a USD 5Mn investment, to bring India's first robotic knee replacement technology (NAVIO) to mass market. This technology advantage has enabled a 25% reduction in patient length of stay while maintaining an affordable delivery model. Over the four years of our investment since 2014, Lokmanya has witnessed a 10X growth in knee replacement volumes and is now ranked among the top four joint replacement centers in the country.

Industry             : Single Specialty Healthcare Delivery

Transaction Date : March 2014

Website             : http://www.lokmanyahospitals.in/

 

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Shriji Polymers (India) Limited

Our USD 8 Mn investment in Shriji demonstrates the near-complete indigenization of India¿s generic pharma packaging industry (HDPE bottles, caps). Shriji has demonstrated global quality at an efficient price point with better turn-around delivery time. Shriji is the only Indian company that has a US patent for Child Resistant Closures. The Company is the largest tax payer in its home-state and generates significant employment opportunities in tier II/III towns through its four manufacturing plants.

Industry             : Pharmaceutical Packaging

Transaction Date : October 2015

Website             : http://www.packingpeople.com/

 

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Sai Lifesciences Limited

Our USD 10Mn investment in Sai Lifesciences in 2015 has demonstrated India's positioning as a world class base of scientific talent pool combined with state of the art R&D and manufacturing infrastructure. Sai¿s offers its customers a distinctive economic advantage by providing a flexible R&D outsourced model while accelerating time to market. At the time of our exit, Sai had established a strong track record of working on 100+ molecules across different phases of the molecular lifecycle which included 3 commercially launched molecules, 12 Phase III molecules and a diversified customer base of 6 out of the top 10 global pharma/biopharma companies.

Industry             : Pharmaceutical

Transaction Date : November 2015

Exit Date            : July 2018

Website             : http://www.sailife.com

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Brinton Pharmaceuticals

We identified Brinton as a well-positioned play in the fast-growing multi-billion Indian dermatology market and put USD 4Mn to work in March 2017. Since then, the company has grown revenues by 3X, catapulted several ranks and has emerged as the fastest growing company in Indian dermatology formulations. Brinton's diversified basket of skincare and haircare products now has a Pan-India reach with repeat prescriptions from 24,000 doctors, 200,000+ pharmacies and 650+ distributors. Brinton is now in the process of repeating the success formula within paediatric segments.

Industry             : Pharmaceuticals (Domestic Formulations)

Transaction Date : March 2017

Website             : http://www.brintonhealth.com/

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Konverge Healthcare Private Ltd

In March 2017, we backed Konverge with USD 3Mn investment to address an identified unmet need of iron and calcium deficit diet in women's nutrition. Konverge now has a reach in over 100 Tier II/Tier III towns extending coverage to low income segments in India. Konverge's differentiated protein strategy through high absorption profile and minimal wastage is presently being nurtured by TCHF through a sharpened strategic direction.

Industry             : Pharmaceuticals (Domestic Formulations)

Transaction Date : March 2017

Website             : http://www.konvergehealthcare.com

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