+1-888-308-5802     
News Contact Us

Temasek pours in USD 100M in pharma major Ascent Health and Wellness

Author : Sunil Hebbalkar | Published Date : 2019-08-05 

Singaporean holding company Temasek is reportedly on the verge of finalizing a funding round in Ascent Health and Wellness. Sources claim that the equity financing round is close to a projected USD 100 million.

The investment is a part of the many funding initiatives that are being undertaken by global investors in pharmaceutical companies that boast of a worldwide distribution presence and also have an e-commerce stance.

As per sources familiar with the knowledge of the matter, the investment firm and Ascent Health and Wellness may close the deal over the course of the next 45 days. If reports are to be believed, the latest financing round is likely to value Ascent between USD 650 million to USD 700 million.

It is being speculated that post its closure, this funding round will be one of the largest in the nation’s pharmaceutical domain – one that is incidentally characterized by the absence of an organized regulatory spectrum.

For the uninitiated, Ascent Health, founded by Hardik Dedhia and Harsh Parekh in 2013, is known to provide pharma firms with numerous distribution channels – inclusive of retail and institutional. Additionally, the company manages pharmaceutical supply and acts as a vendor as well, for hospital chains.

Since the six years of its establishment, Ascent Health has emerged as India’s second-largest pharmaceutical distributor (Apollo ranks first) and caters to over 20,000 retailers spanning the nation. The firm also works alongside prominent pharmaceutical companies such as Sun Pharmaceuticals, Cadila, Zydus, and Cipla.

Temasek’s investment in Ascent Health is a part of a funding round that will witness the participation of Canada’s second-largest pension fund CDPQ as well as LGT, a private banking and asset management group.

Neither the CEO of Ascent Health and Wellness not Temasek’s spokesperson was available for any comments, when asked.

Source Credit: https://tech.economictimes.indiatimes.com/news/startups/temasek-lines-up-100m-investment-in-ascent-health-and-wellness/70527836

About Author

Sunil Hebbalkar

Sunil Hebbalkar

Sunil Hebbalkar currently works as a content writer for fractovia.org and other portals. A post graduate in mechanical design engineering, he nurtures a passion for writing articles related to myriad industry verticals such as the technology, automotive, and healthcare sectors. When free, Sunil pursues his interest in cycling, reading, and sketching. He can be contacted at- [email protected] | https://twitter.com/HSuniel

Related News

Del Monte to shut its Sleepy Eye plant & lay-off all employees on site

Published Date: 2019-08-23         Author: Sunil Hebbalkar

The Sleepy Eye plant closure would be waving hundreds of seasonal jobs and 69 full time jobs.   This closure is just a part of the greater vision of Del Monte’s parent company, Del Monte Pacific ­Limited based in Singapore, to close or sell most of its U.S. assets. Del Mon... Read More

Del Monte to shut its Sleepy Eye plant & lay-off all employees on site

Published Date: 2019-08-22         Author: Sunil Hebbalkar

The Sleepy Eye plant closure would be waving hundreds of seasonal jobs and 69 full time jobs.   This closure is just a part of the greater vision of Del Monte’s parent company, Del Monte Pacific ­Limited based in Singapore, to close or sell most of its U.S. assets. Del Mon... Read More

Hyundai Motor halts production subject to tough market conditions

Published Date: 2019-08-19         Author: Sunil Hebbalkar

The carmaker has declared no production days for some departments due to slowdown in the automobile sector. Engine Shop-1 and Engine Shop-2 are expected to face the no production days for ten and nice shifts respectively. The nation's second largest car-maker Hyundai Motors, India has ... Read More

© 2019 Fractovia. All Rights Reserved