Manipal

India Health

Manipal Education and Medical Group (MEMG) is one of India’s leading medical research, education, and healthcare services providers. It manages hospitals, education institutions, and medical research facilities.

The Bangalore-based company was founded in 1953 and owns and operates onsite campuses in Manipal, Mangalore, Bangalore, Goa, Sikkim, Nepal, Malaysia, the United Arab Emirates, and Antigua.

MEMG-CDC Ventures is a new platform established by Manipal and CDC, pooling capital and expertise to back and develop the next generation of out-of-hospital healthcare services.

  • Active
  • Exited

This investment was made under a previous strategy. We disclose information on all our current investments, but narrative information on our pre-2012 investments, when we introduced a new strategy, may be limited.

Intermediated investment

We are invested in Manipal through IDFC Private Equity (Mauritius) Fund II, which is managed by IDFC Private Equity. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Health
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
IDFC Private Equity (Mauritius) Fund II
Fund Manager:
IDFC Private Equity
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
June 2006
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius

This investment was made under a previous strategy. We disclose information on all our current investments, but narrative information on our pre-2012 investments, when we introduced a new strategy, may be limited.

Intermediated investment

We are invested in Manipal through Kotak India Private Equity Fund Limited, which is managed by Kotak Mahindra Group. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Health
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
Kotak India Private Equity Fund Limited
Fund Manager:
Kotak Mahindra Group
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
July 2008
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius

Intermediated investment

We are invested in Manipal through India Value Fund IV, which is managed by India Value Fund Advisors. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Health
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
India Value Fund IV
Fund Manager:
India Value Fund Advisors
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
December 2012
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius

Intermediated investment

We are invested in Manipal through IDFC Private Equity Fund III, which is managed by IDFC Private Equity. For further information on the fund, the fund manager, and the expected impact of the fund’s investment, click here.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Health
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Intermediated investment
Fund:
IDFC Private Equity Fund III
Fund Manager:
IDFC Private Equity
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
October 2013
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius

Direct Equity

Our investment

In early 2017, CDC joined forces with MEMG to invest an initial $80 million in innovative local healthcare opportunities across India, Africa and South Asia.

MEMG-CDC Ventures will invest in and develop companies which are shaping the future of healthcare delivery across
these regions. It will focus on care beyond hospitals, enabling earlier diagnosis and more effective, lower-cost treatment.

The platform has so far made two investments: the first in iGenetics, a leading Indian molecular diagnostics company; the second in Portea, India’s largest home healthcare company, which was made alongside Accel US.

Expected impact

In Africa and South Asia, we believe there will be a strong shift towards delivering new formats of healthcare in the 21st century, moving it away from hospitals and into other settings. This will successfully deliver higher quality care at a lower cost.

Our investment will support the growth of the healthcare sector in India, creating jobs and tapping into medical and technical innovations to improve access to good quality and affordable care for all patients.

For instance, Portea is the leading provider of home healthcare within India. Operating in over 20 cities across the country, the company has several thousand employees and is allowing hundreds of thousands of patients to be treated within their own homes rather than needing to seek hospital-based medical care.

Environmental and social aspects

We supported Manipal in developing its environmental and social management framework, which includes performing environmental and social due diligence on any new investment opportunities.

We continue to monitor performance in line with this framework, and support the joint venture on implementing relevant processes.

Key facts

Status:
Active
Region

Since 2012, we’ve only invested in Africa and South Asia. Investments outside these regions are from our pre-2012 portfolio.

:
South Asia
Countries:
India
Sector

We have seven priority sectors. However, we continue to invest outside these sectors, largely in the most challenging regions, as new investment supporting any sector helps to underpin the private sector, and create jobs and livelihoods for people.

:
Health
Investment type

We provide capital in three broad ways: direct equity, debt, and intermediated equity (principally through investment funds).

:
Direct Equity
Start date

For direct investments, this is the date CDC committed capital to the business or project.

For funds, this is the date that CDC committed capital to the fund.

For underlying fund investments, this is the date that the fund invested capital into the business.e

:
January 2017
Amount

For direct investments, this is the total amount that CDC has committed to the business or project (it may be a combination of equity and debt).

For funds, this is the total amount that CDC has committed to the fund.

:
$60m
Domicile

This is the investee company’s place of incorporation; or a fund’s jurisdiction.

:
Mauritius