Temasek plans Indian healthtech platform
Mumbai: Singapore’s Temasek is looking to build and nurture a health-tech platform in India as an extension to its existing healthcare platform Sheares, where most of its Asian healthcare businesses are anchored, senior officials of the fund told ET.
“We have an operating team in Singapore and are looking to scale up our operations in India. As the country’s healthcare sector is different from that of China and Singapore, an understanding of the local market, along with deep in-depth operating expertise, is needed for the platform,” said R Venkatesh, managing director, Temasek India.
Last year, the fund created the logistics platform as a joint venture along with Singbridge where Temasek would be investing in building housing across the country, both greenfield and brownfield.
Temasek, however, declined to talk specifics about the planned investment. “We do not set limits for geographies, sectors, asset classes, and so there’s no specific target around investments in the healthcare space. Our investment in Sheares Healthcare, which is whollyowned, is not disclosed, but we are committed to building the platform as we see an unmet need in the space,” said Venkatesh.
For a fund that has invested more than $11 billion in India in the past 15 years, mostly by picking up small minority stakes in high growth companies, both public and private, building a business from a scratch is entrepreneurial.
“We’re looking at the themes that are playing out quite well in the country, whether they are around the sharing economy, digitization of the economy, there’s a connected world theme globally that’s playing out very well in India too,” said Ravi Lambah, head India and global head of telecom, Media and Technology for Temasek.