OrbiMed Asia Partners III (ADB-51072-001)

Regions
  • East Asia and Pacific
  • South Asia
Where the impacts of the investment may be experienced.
Countries
  • China
  • India
Where the impacts of the investment may be experienced.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Proposed
Bank Risk Rating
FI
Risk rating varies among banks and may refer only to the particular investment and not to the risk for the project as a whole. Projects marked 'U' have an 'Unknown' risk rating at the time of disclosure.
Voting Date
Aug 25, 2017
The estimate day the bank will vote on a proposed investment. The decision dates may change, so review updated project documents or contact the EWS team.
Borrower
OrbiMed Asia GP III, L.P.
The holder of the loan, grant, or other investment.
Sectors
  • Finance
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Equity
The categories of the bank investment: loan, grant, etc.
Investment Amount (USD)
$ 60.00 million
Value listed on project documents at time of disclosure. If necessary, converted to USD$. Please review updated project documents for more information.
Primary Source

Original disclosure @ ADB website

Updated in EWS Jan 31, 2019

Disclosed by Bank Oct 13, 2017


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Project Description

According to the bank website, ADB's proposed investment in OAP III is a continuation of its strategy to increase the pace of PSOD investments in health care, as well as an endorsement of OrbiMed as the preferred fund manager given its track record and competitive positioning in the People's Republic of China (PRC) and India, two of Asia''s fastest growing health care markets. OrbiMed's Asia team has successfully deployed capital across 36 portfolio companies through two funds, OrbiMed Asia Partners I, LP Fund (OAP I) and OAP II with respectable exits from OAP I. As a demonstration of its origination skills and recognition of ADB as a value-adding partner, OrbiMed has also offered co-investment opportunities to PSOD, including two hospitals in India and a third hospital opportunity currently being explored in the PRC.

Investment Description
  • Asian Development Bank (ADB)
Private Actors
  • OrbiMed Asia GP III, L.P. -- Implementing Company
Contact Information

Responsible ADB Department Private Sector Operations Department
Responsible ADB Division Private Sector Investment Funds & Special Initiatives Div
Responsible ADB Officer Mahmud, Farshed

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main