Team Blitz India
NEW DELHI: Deals in Indian healthcare and pharma sector jumped 298 percent in the July-September quarter of 2023, compared with the same quarter previous year, according to Grant Thornton Bharat Pharma and Healthcare Deal tracker.
The number of deals decreased by 32 percent in the sector in India in the July-September quarter of 2023, according to the report.
The biggest deal in the period was Nirma’s acquisition of Glenmark Lifesciences for $689 million. The other deal above $100 million was the acquisition of AMRI Hospital by Manipal Health for $280 million.
The quarter saw 26 deals totaling $2.7 billion. This is a decrease of 26 percent and 14 percent, in deal volumes and values respectively, compared with the April-June quarter.
“While deal volumes in healthcare may remain subdued, the sector’s growth drivers, such as increasing healthcare demand, technology adoption, and government support, are likely to persist,” said Bhanu Prakash Kalmath, Partner and Healthcare Sector Leader, Grant Thornton Bharat.
