Quadria inks Indonesian healthcare deal

The deal marks the first private equity investment in the country’s pharmaceutical sector

Singapore-based healthcare firm Quadria Capital has signed an agreement to invest in Soho Global Health, an Indonesian pharmaceutical products company, according to a joint statement.

Financial details of the transaction were not disclosed, but the deal mark’s Quadria’s first ever in Indonesia, and the first private equity investment in the country’s pharmaceutical sector, according to the firm.

Soho Global Health Group is based in Jakarta and develops, manufactures and markets evidence-based natural medicine and over-the-counter products primarily for Indonesia. In 2013, Soho set up a joint venture with multinational pharmaceutical business Fresenius Kabi, principally for the production and sale of innovative pharmaceutical liquid injectable products, and branded generics.

Through Quadria’s investment, Soho will increase its access to differentiated high-quality medicines within Indonesia and the Southeast Asia region.

“Soho has a strong legacy within the Indonesian pharmaceutical industry and we hope to grow the company even further with our involvement. We are excited to work alongside the Tan Family and support a stellar management team led by Mr. La O'.  We look forward to working closely with them to help build out the business and create long-term value for all stakeholders,” Quadria Capital managing partner Abrar Mir said.

The deal was made from Quadria’s first US dollar fund, a $300 million vehicle with a 2013 vintage. The firm targets growth equity investments in scalable mid-sized healthcare companies in South and Southeast Asia, with a deal size of between $20 million and $60 million. Quadria focuses on four sub-sectors: healthcare delivery, life sciences, medical technology, and healthcare services.