OrbiMed Asia Partners VI, L.P. (ADB-59104-001)

Regions
  • South Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • China
  • India
Geographic location 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
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Oct 23, 2025
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
OrbiMed Asia Partners VI, L.P.
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Education and Health
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, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 125.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 875.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Jan 31, 2026

Disclosed by Bank Oct 23, 2025

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, ADB is seeking to invest up to $125 million in OrbiMed Asia Partners VI, L.P., the fund aims to make growth equity investments in 20-25 healthcare companies, allocating around 40% of the Fund's committed capital to each of the PRC and India. The Fund may also invest up to 20% in other parts of Asia such as Southeast Asia. It aims to address the increasing demand for higher quality and affordable healthcare primarily in the PRC and India.

The proposed classification for this project is Poverty Reduction and Inclusion Elements (PIE). The demand for healthcare in the People's Republic of China (PRC) and India is rising rapidly, driven by population growth, shifting demographics, and an increasing prevalence of chronic and non-communicable diseases. However, the region still faces challenges such as escalating medical costs, limited access to quality care, and a shortage of skilled medical professionals. The project design elements to address these barriers is increasing the availability of funds for companies (i) producing or distributing medicines targeting tier II and III cities or rural or peri-urban markets, or (ii) providing health care services targeting low-income segments, or (iii) developing healthcare products or services to regions or populations to whom it was not available before. The project defines low-income segments as those that belongs to the five lowest income deciles.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Environment: FI
Involuntary Resettlement: FI-C
Indigenous Peoples: FI-C

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

The financing amount is $125,000,000, which will be financed on an equity basis by ADB’s ordinary capital resources.

$125 million: $100 million investment in OAP VI and $25 million investment in an OAP VI co-investment sleeve.

Financial Intermediary
A financial intermediary is a bank or financial institution that receives funds from a development bank. A financial intermediary then lends these funds to their clients (private actors) in the form of loans, bonds, guarantees and equity shares. Financial intermediaries include insurance, pension and equity funds. The direct financial relationship is between the development bank and the financial intermediary.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

Founded in 1998, OrbiMed is one of the world’s largest investment firms dedicated to health care, with extensive operations in Asia. It has more than 145 multidisciplinary professionals specializing in health care, medicine, finance, and law, including more than 30 holders of Doctor of Philosophy or Doctor of Medicine degrees, as well as 16 former health care chief executive officers or founders. OrbiMed’s Asia private equity team comprises 17 investment professionals based in Shanghai and Mumbai. The team is supported by venture partners with operational experience, enabling hands-on portfolio company engagement.


Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

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.

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How it works