Bengaluru-based healthcare solutions provider Indegene Lifesystems has announced that the company is raising $200 million (around ₹1,500 crores) to boost its acquisitions and drive global expansion plans.
Led by US-based investment firms Carlyle Group and Brighton Park Capital, the investment will help healthcare company, Indegene, accelerate the pace of their acquisitions and mark their positions in expanding overseas in counties like the US, Europe and Mexico.
According to the official release, the investors will pick minority stakes in the company through a primary investment along with a secondary sale by existing shareholders and early investors. However, the transaction is currently subjected to customary regulatory approvals.
When asked about this new investment, Manish Gupta, Co-Founder and CEO of Indegene stated that the commitment towards India’s healthcare sector, by the investor-centric firm Carlyle, will allow Indegene to leverage their global network and deep pharmaceutical expertise. Further, Brighton Park’s deep experience in the technology and healthcare sector makes it an ideal partner for the company.
According to Manish, the company has plans to accelerate acquisitions, primarily in the US and Europe, and expand its operations in Mexico. “Health tech has possibilities and investors are taking note of that,” said Manish.
Further, considering digitisation has become a key for pharma companies to keep their relevance, now more than ever, the funding raised will provide the right opportunity “to create a billion-dollar revenue company out of India,” said Manish.
Founded in 1998, Indegene was strongly backed by Infosys co-founder NS Raghavan, and currently has more than 3,000 employees across India, North America, Europe, China and Japan. The company offers digital transformation platforms and commercialisation services to global healthcare organisations to address complex challenges and improve health and business outcomes.
Neeraj Bharadwaj, Managing Director of the Carlyle Asia Advisory team, also said that the investors are highly impressed with the strong entrepreneurship, the management team of Indegene and its technology-led data-driven global delivery model. Indegene also has a profound ability to scale their relationship with global healthcare firms. And that’s why Carlyle investors are keen to aid the company with necessary capabilities to strengthen and expand its portfolio while deepening relationships with its global client base,” said Neeraj.
Indegene has worked towards designing a technology portfolio to exclusively cater to the healthcare industry, which enabled it to grow more than 25% revenue CAGR, over a decade. Even investors from Brighton Park Capital are excited to invest in a company that has created its mark in delivering high-quality content, analytics and other healthcare solutions through a seamlessly integrated system.