CLOVER HEALTH INPUTS TO TRADE IN INDIA WITH INDIA-AUSTRALIAN COMPANY, SAYS MARKET INVESTMENT GROUP (JAG)
CLOVER Health Investment is among a range of firms set to invest in Indian health companies, in what is expected to be a major boost to the sector in the short term.
The Indian private equity firm is the first major investment bank to be linked to the JAG Group, a consortium of Indian companies that is seeking to become India’s largest healthcare company by 2022.
The investment comes as the country’s government seeks to ramp up investments in its healthcare sector.
JAG is expected launch a fund-raising campaign in the coming weeks.
The firm is expected invest $100 billion in the healthcare sector in India over the next five years.CLOVER Healthcare will invest in companies that provide quality healthcare to the people of India.
It will also contribute to the creation of healthcare infrastructure projects, including hospitals, ambulances and primary health care centers, as well as expand its footprint in the Indian cities.
“We are delighted to invest with JAG and see India as a global leader in healthcare and the future of healthcare,” CLOVER CEO Rajesh Gupta told ET.
“With the Indian healthcare sector already attracting billions of dollars of investment each year, we are looking forward to expanding our operations in India to make a significant contribution to India’s healthcare market.”CLOVER Health Investments is set to set up a joint venture with Indian health services company Cipla.
It is set up in partnership with the Indian private company’s parent company, Ciplar.
Cipla will invest $1 billion in CLOVER Healthcare over five years, Gupta said.
CLOVER will also invest $50 million to CLOVER’s fund to support the growth of the Indian health industry, he added.CLOUD HOME & HOSPITAL (CLOUDS), a healthcare technology company that is co-founded by Gupta, will also participate in the investment.CLOUSED CLOTHING (CLOTH) has been looking to raise funds in India, but has had limited success with the sector so far.
It raised $4 billion through a Series A round in 2016.CLOODED CLOTHEALTH will invest into companies that deliver innovative, innovative products and services in India.CLICK HERE TO GET THE LATEST LATEST NEWS ON CLOUDS CLOTHERS CLOTHER ONLINE,CLOUDER MEDIA,CLOODS CLOTHERY AND THE CLOUD CLOTHER ONLINE MARKET CLUB.