Press release -
Swedfund’s investment creates new opportunities for Indian healthcare
Developing countries' infrastructure for healthcare is deficient and the pressure on healthcare facilities is greatly increasing as the Covid-19 virus spreads. The Swedish development finance institution Swedfund invests in the Indian fund HealthQuad II, targeting early-stage companies in the health sector that creates long-term positive effects for India's growing population.
India faces many healthcare challenges in terms of accessibility, prices that patients cannot afford, and within quality and efficiency. In terms of coverage of doctors and nurses as well as hospital beds, India is behind by 20% and 70% respectively, based on World Health Organization standards. Swedfund’s investment in HealthQuad contributes to the launch of new opportunities for innovative healthcare solutions for a large and growing population in India, now more needed than ever before.
- The world faces an exceptional situation and our role as a development finance institution is now more important than ever. We are proud to support HealthQuad in their mission to identify and provide healthcare solutions for the growing Indian population. At this point, it is highly important to increase access to healthcare as fast as possible by finding new solutions and business models. One example is HealthQuads investment in Medikabazaar, a platform that contributes to increased access to medical equipment and lower prices, as well as increased transparency in procurement processes, says Maria Håkansson, CEO of Swedfund.
According to OECD, India's per capita spending on health care is low at 4% of GDP compared to 6% in China and 17.1% in the USA in 2017. Over the next decade, innovative and alternative solutions need to be developed for Indian healthcare to take a leapfrog in transitioning to quality at an affordable cost.
Swedfund invests in HealthQuad II together with Ackermans & van Haaren and the Small Industries Development Bank of India (SIDBI) to enable the fund to continue its investments in start-up companies that can create innovative solutions and which have the potential to change the healthcare system in India and in other developing countries.
HealthQuad II is an Indian fund that creates alternative choices in healthcare. The fund is backed by Quadria Capital (a leading private equity fund in health in Asia).
Agenda 2030
By investing in a fund manager that seeks to support innovative healthcare solutions for a large and growing population, this investment addresses UN Sustainable Development Goal #1 (No Poverty), #3 (Good Health & Wellbeing), #5 (Gender Equality), #8 (Decent Work & Economic Growth) and #9 (Industry, Innovation and Infrastructure)
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About Swedfund
Swedfund is Sweden's development finance institution for sustainable investments in developing countries. In order to achieve the goal: a world without poverty, more jobs are required in the private sector and that access to renewable energy is increasing. Investments are therefore made within energy & climate, health and to reach small and medium-sized companies.
As a state-owned company, Swedfund is managed by the Ministry of Enterprise and Innovation. The operations are financed partly through capital injections for which the Ministry of Foreign Affairs is responsible and through reflows from the own portfolio. Swedfund was founded in 1979 and has since the start made more than 240 investments in more than 60 countries.
