This is anticipated to be one of the largest financing rounds in the country which is likely to close over the next 45 days,
Temasek is finalizing a $100 million equity financing round in Ascent Health and Wellness as pharmaceutical ventures continue to attract global investors, reported Economic Times.
This is anticipated to be one of the largest financing rounds in the country which is likely to close over the next 45 days, points the report.
Ascent Health merged with online retailer, PharmEasy, this year in order to gain control over distribution and supply chain. Founded in 2013, Ascent emerged as the country’s second-largest pharma distributor soon after. This deal is anticipated to further value the Mumbai-based pharmaceutical company at about $650-700 million, according to the sources to the daily.
Apart from the other investors, CDPQ, a Canadian pension fund, and LGT, an asset management group, are major institutional investors to the online pharmacy.
