Novo Holdings contemplating a second hospital partnership in India
Novo Holdings, the controlling shareholder of drugmaker Novo Nordisk, and TPG, a leading global alternative asset firm, are reportedly exploring opportunities in India's multi-speciality hospital sector [2][3].
According to two individuals aware of the development, Novo Holdings is evaluating the purchase of a stake in an Indian hospital chain that is backed by a mid-market private equity firm. The specific hospital chain and the size of the stake Novo Holdings is considering have not been disclosed.
Meanwhile, TPG has made a strategic investment in Schott Poonawalla, a pharmaceutical company, with Novo Holdings as a co-investor. The details about TPG's potential stake in Schott Poonawalla and the size of the investment have not been revealed.
Recent news also mentions Lenskart, Carlyle, Surya Hospitals, Yum! Brands, Siemens Gamesa, Zepto, and Manipal Hospitals as entities active in the Indian market.
Interestingly, Manipal, a hospital chain controlled by Temasek, has acquired Sahyadri Hospitals. This move signifies the growing competition in the Indian hospital sector.
Canada's OTPP has exited its investment in Sahyadri Hospitals, but the reasons behind this decision remain unclear.
As both Novo Holdings and TPG deliberate their potential investments, it remains to be seen how these developments will shape the Indian hospital sector in the coming months.
Novo Holdings is also exploring investments in the health-and-wellness sector, considering a potential stake in an Indian hospital chain with a focus on science-based treatment methods. Meanwhile, TPG, apart from its interest in the hospital sector, has ventured into finance by making a strategic investment in a pharmaceutical company, Schott Poonawalla, with Novo Holdings as a co-investor, indicating TPG's interest in the intersection of finance and health-and-wellness, particularly within the business of pharmaceuticals.
