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Manipal Hospitals backer Novo Holdings ropes in former IFU exec

VCCircle

VCCircle · 1y ago

Manipal Hospitals backer Novo Holdings ropes in former IFU exec

Novo Holdings, the Danish investor that backs Manipal Hospitals, has hired a former executive from the Investment Fund for Developing Countries (IFU). Novo Holdings, which also owns a majority stake in obesity drugmaker Novo Nordisk, manages assets on behalf of the Novo Nordisk Foundation. The move comes as Novo Holdings continues to expand its portfolio in the healthcare industry, with investments in both hospital chains and healthtech companies.

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Manipal Hospitals backer Novo Holdings names former KKR exec as India head

VCCircle

VCCircle · 7m ago

Manipal Hospitals backer Novo Holdings names former KKR exec as India head

Novo Holdings, a Danish investment firm and investor in Manipal Hospitals and Qure.ai Technologies in India, has appointed Karthik Narayanaswamy as its new India head. This move aims to enhance the firm's activities in the South Asian market. Novo Holdings is known for its healthcare investments and owns a majority stake in the weight-loss drugmaker, Novo Nordisk.

Manipal Hospitals backer Novo Holdings to invest $35 bn over next six years

VCCircle

VCCircle · 1y ago

Manipal Hospitals backer Novo Holdings to invest $35 bn over next six years

Novo Holdings, the controlling shareholder of Novo Nordisk, plans to invest $35 billion by 2030. The company will invest around $5 billion per year in the next five years, with a potential increase to $7 billion per year by 2030. Novo Holdings has a significant stake in Novo Nordisk, which produces obesity drug Wegovy and diabetes treatment Ozempic. The investment arm is also involved in industrial enzymes maker Novonesis and manages a portfolio of 160 companies. Novo Holdings recently invested in Indian private hospital chain Manipal Hospitals and is focusing on Asia for future investments.

Temasek sells 8% stake in Manipal Health to Mubadala, others

Livemint

Livemint · 1y ago

Temasek sells 8% stake in Manipal Health to Mubadala, others

Singapore government's investment arm, Temasek Holdings, has reduced its stake in Manipal Health Enterprises (MHE) by selling up to 8% to investors including Mubadala Investment Company, Novo Holdings, and CalPERS. Despite the sale, Temasek will still hold a majority stake in MHE. The move comes after Temasek acquired a stake in Manipal last year, with the goal of de-risking its investment while maintaining a majority holding. Manipal is a leading healthcare network in India with over 30 hospitals and 9,500 beds.

Manipal Hospitals backer Novo Holdings to expand in India, open Mumbai office

VCCircle

VCCircle · 1y ago

Manipal Hospitals backer Novo Holdings to expand in India, open Mumbai office

Novo Holdings, the controlling shareholder of Novo Nordisk, is planning to open an office in India this year to tap into the country's growing healthcare market and innovation. The firm manages a portfolio of 170 companies and has seen a surge in revenue from Novo Nordisk. Novo Holdings has already invested in Indian private hospital chain Manipal Hospitals and plans to invest between $300 million and $500 million in Asia each year in the coming five years. The company sees huge potential in Asian markets, driven by large populations, growing middle classes, and government focus on healthcare provision.

Ranjan Pai’s Claypond Capital ropes in former Fireside exec

VCCircle

VCCircle · 1y ago

Ranjan Pai’s Claypond Capital ropes in former Fireside exec

Claypond Capital, the family investment office of Ranjan Pai, Chairman of Manipal Group, has appointed a former Fireside Ventures executive as the firm increases its startup investments. The family office was established after Temasek acquired a $2 billion stake in Manipal Group.

Ranjan Pai’s Claypond Capital ropes in former Wipro-GE Healthcare exec

VCCircle

VCCircle · 7m ago

Ranjan Pai’s Claypond Capital ropes in former Wipro-GE Healthcare exec

Claypond Capital, led by Manipal Group Chairman Ranjan Pai, has appointed a former Wipro-GE Healthcare managing director as they focus on investing in the medical devices and technology sector.

Ugro Capital backer IFU promotes exec to investment director role

VCCircle

VCCircle · 1y ago

Ugro Capital backer IFU promotes exec to investment director role

The Investment Fund for Developing Countries (IFU), a Dutch government-backed institution, has promoted one of its executives in India. IFU has invested in Indian companies such as Smart Joules and Ugro Capital. They have plans to invest up to $360 million in India.

Novo Nordisk owner to invest $200 million in quantum computing startups

Economic Times

Economic Times · 1y ago

Novo Nordisk owner to invest $200 million in quantum computing startups

Novo Holdings, the majority shareholder of Novo Nordisk, is planning to invest $200 million in quantum computing startups. Novo Holdings aims to support the development of an ecosystem of quantum computing companies, with a focus on life sciences startups in Nordic countries. Quantum computing has the potential to revolutionize various sectors, including pharmaceuticals and drug discovery, by significantly speeding up scientific calculations. Novo Holdings believes that quantum technology can be transformative and aims to create and grow strong quantum technology companies in the Nordics.

Temasek-controlled Manipal Health leads race for regional hospital chain

VCCircle

VCCircle · 5m ago

Temasek-controlled Manipal Health leads race for regional hospital chain

Manipal Hospitals, controlled by Temasek, is leading the race to invest in a Maharashtra-based hospital chain. Manipal Hospitals, operated by Manipal Health Enterprises Pvt Ltd and led by Ranjan Pai, is in talks to acquire a significant stake in the regional chain. This move indicates Manipal Health's strategic expansion in the healthcare sector, leveraging Temasek's support to strengthen its presence and further enhance its market position in India’s hospital industry.

Temasek nets over 2x via swift India portfolio roll-up transaction

VCCircle

VCCircle · 1y ago

Temasek nets over 2x via swift India portfolio roll-up transaction

Singapore's state investment firm, Temasek, has sold its stake in Medica Synergie Pvt Ltd to Manipal Hospitals, generating a return on its investment of more than two-fold in less than two and a half years. Manipal Hospitals, based in Bengaluru, has acquired an 87% stake in the Kolkata-based healthcare company.

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