India: Indegene to raise $200m from Carlyle, Brighton Park to fund M&A plans

Photo by Henk Vrieselaar on Unsplash

Healthcare solutions firm Indegene Pvt. Ltd said it is raising $200 million from US-based investment firms Carlyle Group and Brighton Park Capital to boost acquisitions and drive global expansion plans.

Carlyle and Brighton Park Capital will pick minority stakes in Indegene through a primary investment along with a secondary sale by existing shareholders and early investors of the Bengaluru-based company. The transaction is awaiting regulatory approvals.

“We plan to accelerate the pace of acquisitions, primarily in the US and Europe. We are also looking to expand overseas and will set up operations in Mexico. Health tech has possibilities and investors are taking note of that,” Manish Gupta, co-founder and CEO, Indegene said in an interview. “Carlyle’s commitment to healthcare sector with their pharma expertise coupled with Brighton Park’s experience in the technology sector makes the two firms the ideal partners to support our company’s continued growth.”

Post-covid, digitization has become a significant part of pharma firms, Gupta said. “We have an opportunity to create a billion-dollar revenue company out of India,” he said.

Indegene, which has clocked seven acquisitions overseas of late, helps life sciences companies with digitizing their sales and marketing functions, enabling filings through content automation, data and analytics capabilities.

“We have been impressed by the strong entrepreneurial energy of the management team at Indegene and their technology-led, data-driven, differentiated global delivery model, as well as by their ability to scale relationships with global healthcare enterprises. We look forward to leveraging our global healthcare network and capabilities to help the company further strengthen and expand its portfolio while deepening relationships with its global client base,” said Neeraj Bharadwaj, MD of the Carlyle Asia advisory team.

Carlyle’s India investments include Piramal Pharma, Sequent Scientific Ltd, Medanta Medicity Hospital and diagnostic centre Metropolis Healthcare. Globally, Carlyle has invested over $13 billion equity in the healthcare sector as of September 2020.

Mark Dzialga, managing partner of Brighton Park Capital said: “With a strong technology platform and a digital-first approach, Indegene has established a reputation for high-quality content, analytics, and other healthcare solutions provided through a seamlessly integrated system.”

This article was first published in livemint.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.