03 February 2021 | News
The transaction, which is subject to customary regulatory approvals, consists of a secondary sale from existing shareholders of Indegene and a primary investment into the company
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The Carlyle Group, Brighton Park Capital and Indegene, the Bengaluru-headquartered enterprise health-tech solutions provider, have announced that Carlyle and Brighton Park Capital will acquire minority stakes in the company for $200 million. The transaction, which is subject to customary regulatory approvals, consists of a secondary sale from existing shareholders of Indegene and a primary investment into the company.
Manish Gupta, Co-Founder and CEO, Indegene, said, “Carlyle’s commitment to the healthcare sector with their global network and deep pharmaceutical expertise, coupled with Brighton Park’s deep experience in the technology sector and nuanced understanding of our space, makes the two firms the ideal partners to support our company’s continued growth.”
Neeraj Bharadwaj, Managing Director, Carlyle Asia advisory team, said, “We look forward to leveraging our global healthcare network and capabilities to help the company further strengthen and expand its portfolio while deepening relationships with its global client base.”
Mark Dzialga, Managing Partner, Brighton Park Capital, said: “We are excited to partner with the company as we bring to bear our significant technology expertise to help accelerate Indegene’s global growth.”
Over the last decade, Indegene has made significant organic and inorganic investments in building a technology portfolio that caters exclusively to healthcare. This has enabled the company to grow at more than 25 per cent revenue CAGR over a decade. This growth rate is accelerating with strong industry tailwinds driving a rapid shift towards digital-first operations.
Torreya, Seyfarth Shaw, Deloitte, KPMG and Tatva Legal advised Indegene on this transaction. Moelis & Company, EY, Shardul Amarchand Mangaldas & Company, Latham & Watkins and Bain & Company acted as advisors for Carlyle. Brighton Park Capital was advised by EY, Paul Weiss and Bharucha & Partners.