Advanced healthcare delivery models, including e-pharmacies and direct-to-consumer vendors, continue to attract investment, particularly as Covid-19 has accelerated the adoption of at-homecare — digital-first and tech-enabled care were big in India. This activity was primarily driven by growth-equity investments such as API Holdings, an integrated digital healthcare platform, which raised US$323m from Prosus Ventures. API Holdings is also the parent of TPG-backed PharmEasy, an Indian online pharmacy and medical store, which filed for an initial public offering in 2021.
Additional activity focused on telemedicine; Temasek-backed Halodoc raised US$80m in a Series C fund-raising round, and Singapore’s Doctor Care Anywhere raised US$66m in a Series C round led by Asia Partners. Growth equity also played a role in assets focused on alternative sites of care, specifically in homes.
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