Indian pharma, healthcare deals value jumps 298% YoY in July-September: Grant Thornton

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Deals in Indian healthcare and pharma sector jumped 298 percent in the July-September quarter of 2023, compared with the same quarter previous year, according to Grant Thornton Bharat Pharma and Healthcare Dealtracker.The number of deals decreased by 32 percent in the sector in India in the July-September quarter of 2023, according to the report.The biggest deal in the period was Nirma’s acquisition of Glenmark Lifesciences for $689 million. The other deal above $100 million was the acquisition of AMRI Hospitals Ltd by Manipal Health Enterprises Ltd for $280 million.Also read: Nirma makes big pharma push; acquires 75% in Glenmark Life Sciences for Rs 5,651 crAPI and CDMO in the life sciences and single specialty in healthcare sectors emerged as focus segments with increased investor interest.The quarter saw 26 deals totaling $2.7 billion. This is a decrease of 26 percent and 14 percent, in deal volumes and values respectively, compared with the April-June quarter.“While deal volumes in healthcare may remain subdued, the sector's growth drivers, such as increasing healthcare demand, technology adoption, and government support, are likely to persist," said Bhanu Prakash Kalmath, Partner and Healthcare Sector Leader, Grant Thornton Bharat.Deal volumes in the cross-border space has been on a decline. The quarter in review had only one deal in the inbound space, with Gleneagles Development’s acquisition of Ravindranath GE Medical Associates for $90 million.The PE landscape marked the lowest quarterly volumes in the last three years, with 18 deals totaling $1.4 billion. This quarter, despite witnessing a decline in deal values and volumes compared to the previous quarter, showcased a remarkable 147 percent increase in values compared to the July-Sep period in 2022.Single specialty hospitals emerged as a particularly attractive sector for investors, with substantial investments such as BPEA EQT's $657 million infusion into Indira IVF Hospital Pvt Ltd, Quadria Capital's investment in Maxivision Super Specialty Eye Hospital and acquisition of majority stake in Asian Institute of Nephrology and Urology by Asia Healthcare Holdings.The pharma/healthcare IPO landscape in India had a combined value of $379 million in the July-Sep quarter, including Concord Biotech raising $189million.Also read: Concord Biotech stock lists at 21% premium over IPO price; share price hits...

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