According to Grant Thornton Bharat Pharma and Healthcare Dealtracker, deals in India's healthcare and pharmaceutical sector grew by 298 percent in July-September 2023 compared to the same quarter last year. According to the report, the number of transactions in India decreased by 32 percent in the July-September period of 2023. The largest deal during that period was the purchase of Nirman from Glenmark Lifesciences for $689 million. Another deal worth more than $100 million was the acquisition of AMRI Hospitals Ltd to Manipal Health Enterprises Ltd for $280 million.
API and CDMO of life sciences and individual health specialties have emerged as focus areas in which investor interest has grown. During the quarter, 26 deals were completed with a total value of $2.7 billion. Compared to the April-June quarter, this is a 26 percent decrease and a 14 percent decrease in the value of contracts."While healthcare deal volumes may remain muted, industry growth drivers such as growing healthcare demand , technology adoption and government support are likely to continue," said Bhanu Prakash Kalmath, partner and head of healthcare at Grant Thornton Bharat. Trade volumes in the cross-border region have decreased. In the quarter under review, there was only one deal in the entry-level segment when Gleneagles Development acquired Ravindranath GE Medical Associates for $90 million. The PE landscape marked its lowest quarterly volume in three years with 18 deals totaling $1.4 billion. Despite contract values and volumes decreasing this quarter compared to the previous quarter, values increased significantly compared to July-September 2022 by 147 percent.
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