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Bahrain – Investcorp, a leading global provider and manager of alternative investment products, today announced that it has made a strategic growth investment in Kindstar lobalgene (“Kindstar”), the leading independent medical testing services group in China. Terms of the transaction were not disclosed.
Founded in 2003 and headquartered in Wuhan, Kindstar is a leading independent medical testing provider in China, offering patients and physicians broad access to advanced specialty testing services across hematology, gynecology and pediatrics, infectious diseases, oncology and neurology.
Kindstar currently serves more than 3,000 hospitals in over 600 cities in China with advanced and nationally accredited clinical testing, scientific research and development laboratories and more than 2,500 employees.
Hazem Ben-Gacem, Co-CEO of Investcorp, stated: “Investcorp is proud of its Asian investment platform that it has built over the past five years. Our focus on healthcare opportunities in China allowed us to identify Kindstar which has built impressive capabilities for improving the quality of healthcare through severe diseases related testing. We believe that Kindstar has significant growth potential driven by accelerating demand for precision medicine, underserved market and the company’s broadening advanced solutions to address an even wider range of specialty healthcare needs. We are proud to support Kindstar and its first-class management team in executing its exciting growth plans.”
Kindstar uses esoteric testing which involves analyzing unique molecules or substances utilizing advanced, cutting-edge technologies and skilled laboratory technicians, to provide critical diagnostic information that cannot be obtained through routine testing. China’s independent clinical laboratories market is expected to grow at high digit in the foreseeable future, with esoteric testing outpacing the overall market, driven by significant demand to address unmet medical needs.
Kindstar maintains a leading market position in China, and is further supported by its extensive global network, which includes some of the world’s leading healthcare organizations such as the Mayo Clinic, Illumina and Novartis.
Investcorp’s investment in Kindstar advances its recently launched platform focused on investing in high-quality Chinese healthcare companies that have remained resilient throughout the pandemic and are expected to experience accelerated growth. In September 2020, Investcorp announced that it had acquired minority equity stakes in Lu Daopei Medical Group, the leading hematology hospitals group in China and WeDoctor, a leading online healthcare services company.
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About Investcorp
Investcorp is a global investment manager, specializing in alternative investments across private equity, real estate, credit, absolute return strategies, GP stakes and infrastructure. Since our inception in 1982, we have focused on generating attractive returns for our clients while creating long-term value in our investee companies and for our shareholders as a prudent and responsible investor.
We invest a meaningful portion of our own capital in products we offer to our clients, ensuring that our interests are aligned with our stakeholders, including the communities that we operate within, towards driving sustainable value creation. We take pride in partnering with our clients to deliver tailored solutions for their needs, utilizing a disciplined investment process, employing world-class talent and combining the resources of a global institution with an innovative, entrepreneurial approach.
Investcorp has today a presence in 12 countries across the US, Europe, GCC and Asia, including India, China and Singapore. As of June 30, 2020, Investcorp Group had US $32.2 billion in total AUM, including assets managed by third party managers, and employed approximately 450 people from 44 nationalities globally across its offices. For further information, visit www.investcorp.com and follow us @Investcorp on LinkedIn, Twitter and Instagram.
Media Contacts:
Investcorp
Nada Abdulghani
nabdulghani@investcorp.com
© Press Release 2020
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