Baar-Zug, Switzerland, 11 December 2019
PG Impact Investments, a global impact investment firm, has made an equity investment in Asian Institute of Gastroenterology (AIG), Asia’s leading gastroenterology hospital. In partnership with Quadria Capital and other co-investors, PG Impact Investments will support AIG’s growth strategy aimed at providing healthcare to more than 500,000 patients by 2022.
India’s healthcare system is defined by low public healthcare spending leading to very limited secondary and tertiary care and by a very low penetration of health care insurance (80%[1] of Indians are not insured) pushing 55 million Indians into poverty every year[2].
AIG enables lower and middle-income populations access to highest quality and affordable healthcare services by operating an inclusive and efficient business model. AIG currently reaches around 45,000 (30% of patient volume) from lowest income populations thanks to provision of highest quality healthcare at prices well below market average, maintaining a dedicated share of lower priced beds for underserved patients as well as dedicated discount programs and in some cases free treatment for underserved patients. Additionally, AIG also runs preventive healthcare and treatment programs in rural areas in India, which so far have reached around 10 million people.
AIG has recently operationalized a new hospital, which has become the first healthcare facility in India to be a member of the 150-year-old Mayo Clinic Care Network in the US and is a step in bringing world-class medical expertise, innovation and technology to India for the benefit of the communities at no additional cost.
Urs Baumann, CEO and co-founder of PG Impact Investments, comments: “We are excited to partner with Quadria Capital to support the further growth and development of AIG. We believe that AIG can be a role model to other private healthcare facilities how to operate an inclusive and efficient business model at the same time providing highest quality and affordable care to underserved populations”
About PG Impact Investments
PG Impact Investments was founded in 2015 with the vision that private investment, innovation and entrepreneurial talent can provide solutions to the challenges faced by our society, as well as create sustainable growth. PG Impact Investments is a private sector, mission-driven, global investment firm specializing in investment solutions aimed at delivering financial returns as well as creating a positive social and/or environmental impact. It manages investment strategies for an international clientele of professional investors who are seeking investment solutions that offer market-rate returns, while also helping to address pressing social or environmental challenges. All profits from the business activities of PG Impact Investments are transferred to PG Impact Investments Foundation. The Foundation supports social initiatives and social businesses ventures that otherwise would not receive funding through commercial investors or investment funds. Whilst being independent from Partners Group, PG Impact Investments entities are backed by Partners Group and its employees, and benefit from the global infrastructure, investment know-how and specialist resources of this leading global private markets investment manager.
About Asian Institute of Gastroenterology
Asian Institute of Gastroenterology is India’s foremost Gastroenterology hospital officially recognized as one of the only 17 hospitals in the world as a Centre of Excellence for Gastroenterology.
Led by Padma Bhushan Dr. D Nageshwar Reddy, Chairman and Managing Director, AIG Hospitals offers comprehensive healthcare services across 8 key Centres of Excellence – Medical & Surgical Gastroenterology, Liver Sciences, Organ Transplant, Pulmonary Sciences, Renal Sciences, Oncology, Cardiac Sciences, Obesity & Metabolic Therapy.
About Quadria Capital
Quadria Capital is an independent healthcare focused private equity firm with assets under management exceeding US$ 1.8 billion and investments in 19 companies across the Asia-Pacific region.
Quadria Capital focuses on partnering with promising regional healthcare companies and, with our active investment strategy, help them grow into regional leaders, while creating and delivering outstanding returns to our investors. Quadria Capital aims is to improve lives by bringing better healthcare for all. This comes from its belief that positive investment returns and constructive social and financial impact must go hand-in-hand.
The Fund is sponsored by Abrar Mir and Dr. Amit Varma and has operations based out of Singapore and New Delhi.
[1] EY (2018); https://www.ey.com/Publication/vwLUAssets/EY-global-analysis-of-health-insurance-in-india/$File/ey-global-analysis-of-health-insurance-in-india.pdf
[2] Public Health Foundation (2018); https://timesofindia.indiatimes.com/india/health-spending-pushed-55-million-indians-into-poverty-in-a-year-study/articleshow/64564548.cmsDecember 4th, 2019|Uncategorized