IFC invests $60m in Hong Kong's idsMED

idsMED will use the new capital to expand geographically while adding new businesses in the medical supply chain, according to a release. The company represents over 200 global medical equipment and consumables brands, distributing to more than 10,000 healthcare facilities across the Asia Pacific region, including hospitals, elderly homes, specialist clinics, and laboratories.

This is IFC’s first investment in a member of the Fung Group, a multinational trading, logistics, distribution and retail conglomerate based in Hong Kong. idsMED is majority-owned by Fung Investments, the group’s private investment arm.

Founded in 2011, idsMED operates in eight countries, with 1,200 employees including sales and medical specialists along with biomedical engineers providing installation and maintenance services. The company plans to add professional ancillary services including equipment-relate training along with continuing education for customers and doctors.

“It is our priority to reach populations with little or no access to health services and to promote the delivery of affordable, quality healthcare,” said Vivek Pathak, IFC’s director for East Asia and the Pacific. “Through our investment, we promote the expansion of services to communities in developing countries like Indonesia, the Philippines, Vietnam and Cambodia and hope to unlock opportunities for other private sector clients.”  

IFC manages an active portfolio of healthcare investments totaling about $1.7 billion worldwide. In Asia, recent investments in the sector include a $68 million commitment to Indian clinic chain Apollo Health and Lifestyle and a $75 million investment in Indian hospital operator Max Healthcare.

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• Topics
• Greater China
• Healthcare
• Expansion
• Hong Kong (China)
• IFC
• Growth capital