|Project Name||OrbiMed Asia Partners III|
|Borrower/Company||OrbiMed Asia Partners III, L.P.
China, People's Republic of
|Location||China - Nation-wide; India - Nation-wide|
|Type or Modality of Assistance||
|Strategic Agendas||Inclusive economic growth
|Drivers of Change||Governance and capacity development
Private sector development
|Sector / Subsector||
Finance / Infrastructure finance and investment funds
Health / Health care finance
|Gender Equity and Mainstreaming||No gender elements|
|Responsible ADB Department||Private Sector Operations Department|
|Responsible ADB Division||Private Sector Investment Funds & Special Initiatives Div|
|Responsible ADB Officer||Mahmud, Farshed|
|Project Sponsor(s)||OrbiMed Asia GP III, L.P.
|Objectives and Scope||The Fund will target primarily growth equity investments in companies across the healthcare industry, including pharmaceuticals, biotechnology, medical devices, healthcare services and digital health. A majority of these investments is expected to focus on the rapidly growing demand for higher quality, affordable healthcare in the People's Republic of China (PRC) and India with export opportunities to other Asian markets, and with a small pocket of opportunistic investments in Southeast Asia.|
|Linkage to Country/Regional Strategy||The GP's investment strategy for OAP III will be similar to that of the previous fund. The Fund will continue to focus its investment activity in companies that benefit from primarily three drivers, which Orbimed believes create compelling opportunities for PE investment: (1) increasing affordability, accessibility and quality in the delivery of healthcare products, particularly for the underserved Asian consumers; (2) increasing efficiency in the accessibility and use of healthcare services outside of Asian mega-cities; and (3) leveraging Asia's cost advantage and local strengths.|
|Summary of Environmental and Social Aspects|
|Environmental Aspects||The proposed OAP III transaction is categorized as FI and Fund's investee companies is expected to be classified as category B. OAP III will prohibit a company from marketing or distributing a pharmaceutical product in a jurisdiction where its consumption and/or sale have been banned, withdrawn, or rejected by the Government. For guidance, OAP III will utilize the United Nations Consolidated List of Products Whose Consumption and/or Sale Have Been Banned, Withdrawn, Severely Restricted or Not Approved by Governments and/or bi-annual updates prepared by the World Health Organization on pharmaceuticals, an input to the cited UN Consolidated List. The ESMS will apply key provisions in and make reference with the World Bank Group Environmental, Health and Safety Guidelines for Health Care Facilities, and Pharmaceuticals and Biotechnology Manufacturing; (ii) the American Institute of Architects and the Facility Guidelines Institute, the American Society for Healthcare Engineering of the American Hospital Association, and (iii) the Green Guide for Health Care (www.gghc.org).|
|Involuntary Resettlement||The Fund will adopt an environment and social management system commensurate with the level of potential risks of its investments. This will include screening procedures for categorizing projects based on ADB Safeguards Policy Statement (2009) requirements to exclude investments having impacts on involuntary resettlement.|
|Indigenous Peoples||The Fund will adopt an environment and social management system commensurate with the level of potential risks of its investments. This will include screening procedures for categorizing projects based on ADB Safeguards Policy Statement (2009) requirements to exclude investments having impacts on indigenous peoples.|
|Stakeholder Communication, Participation, and Consultation||The environment and social due diligence will include an assessment of the investee companies' stakeholder engagement activities.|
|Timetable for assistance design, processing and implementation|
|Concept Clearance||29 Mar 2017|
|Credit Committee Meeting||15 Jun 2017|
|Approval||25 Aug 2017|
|Last PDS Update||12 Jun 2019|
Project Data Sheets (PDS) contain summary information on the project or program. Because the PDS is a work in progress, some information may not be included in its initial version but will be added as it becomes available. Information about proposed projects is tentative and indicative.
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|Title||Document Type||Document Date|
|OrbiMed Asia Partners III: Report and Recommendation of the President||Reports and Recommendations of the President||Aug 2017|
|OrbiMed Asia Partners III: Initial Poverty and Social Analysis||Initial Poverty and Social Analysis||Jun 2017|
Safeguard Documents See also: Safeguards
Safeguard documents provided at the time of project/facility approval may also be found in the list of linked documents provided with the Report and Recommendation of the President.
None currently available.
Evaluation Documents See also: Independent Evaluation
None currently available.
None currently available.
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