The Indian healthcare sector has caught the attention of International Finance Corporation (IFC), which is expected to invest $200 to 300 million in the next one year, according to Henrik Elschner Pedersen, Senior Manager, IFC, Consumer and Social Services-Asia.
The World Bank’s private lending arm is exploring opportunities to invest $200-300 million in the Indian healthcare, pharmaceutical and medical devices space.
Chris McCahan, IFC Chief Investment Officer, Global Health, said recently that the corporation has not decided anything yet and is still in conversation with various Indian healthcare companies.
“I think our portfolio is about $400 million in India in the healthcare space. We have invested in many of the large scalable groups such as Apollo, Max healthcare, Fortis healthcare and then we also have worked with a number of pharmaceutical companies,” McCahan said.
“So, we are looking for pharmaceutical companies that can manufacture low-cost drugs mainly generics and APIs. So, we worked with likes of Glenmark and Jubilant in India,” he added.
The purpose of investments for the IFC is profit making while keeping up with developments in the country, according to McCahan.
“Ultimately, we wear two hats. One is, looking for to get profit from our investments for the risk we have taken. Second is for developmental institutions. So, we are looking for investments that can have a developmental impact within the country we are working, in this case in India,” McCahan added.
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