Spark Capital is pleased to announce successful closure of the transaction involving exit of OrbiMed from Surya Children’s Medicare Private Limited (“Surya” or the “Company”). The transaction included a sale of the entire stake held by OrbiMed in the Company and fresh primary infusion in the Company by the incoming investors to fund future growth of the Company. Commercial terms of the transaction are undisclosed. The aggregate deal size is over INR 2,000 MM. Spark Capital was the Exclusive Financial Advisor to OrbiMed on the Transaction.
The successful closure of this transaction underscores the strength of the Healthcare and Lifesciences franchise at Spark Capital and is another milestone in demonstrating our capabilities in providing our clients with a solution tailored to their requirements and objectives. With the completion of this transaction, Spark has advised on over 20 transactions aggregating ~USD 500 Mn value across various sub-segments of the healthcare space and has reinforced its position as a leader in syndicating equity for mid-market companies in the healthcare space.
Virendra P Pandey, Director & Head of Healthcare and Lifesciences at Spark Capital added, “Surya has been at the forefront of clinical excellence in the broader women & child space and particularly as regards neonatal and paediatric care. We are privileged to have worked with OrbiMed on this transaction and wish that Surya with its new financial partners will expand into newer regions in India and scale greater heights.”
This transaction marks the second closure for Spark in the healthcare and Lifesciences sector in as many months during the current fiscal. With this deal, Spark Capital has consummated deals aggregating to ~USD 6 Bn since inception of which 17 deals aggregating to ~USD 675 Mn across private and public markets have been completed in the last 18 months. This is testament to Spark’s commitment and capabilities to bring fully integrated and holistic financial solutions dedicated to mid-market corporates across the country.
OrbiMed is a leading healthcare investment firm, with $14 billion in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations, utilizing a range of private equity funds, public equity funds, and royalty/credit funds. OrbiMed maintains offices in New York City, San Francisco, Shanghai, Hong Kong, Mumbai and Herzliya. OrbiMed seeks to be a capital provider of choice, providing tailored financing solutions and global team resources and support to help build world-class healthcare companies. Further information is available at www.orbimed.com
About Spark Capital:
Spark Capital is among India’s leading investment banks, providing a full suite of services encompassing Investment Banking, Institutional Equities, Wealth Management and Structured Finance & Debt Syndication. Spark’s Investment Banking business has successfully consummated a total transaction value of close to USD 6 Bn since inception; Spark Capital’s Institutional Equities division covers over 230 stocks under research and enjoys empanelment with over 200 institutional clients across FIIs, DIIs and Family offices. Spark is headquartered in Chennai and has offices in Bengaluru and Mumbai. Further information is available at www.sparkcapital.in