Home / Companies / News /  TPG acquires stake in Sai Life Sciences

Mumbai: American private equity firm TPG has acquired a significant minority stake in Sai Life Sciences, a drug discovery, development and manufacturing service provider, the PE firm said in a statement on Wednesday.

TPG Capital Asia acquired the stake from Tata Capital, the statement added. The financial terms of the transaction were, however, not disclosed.

“The investment from TPG, a global investor with deep regional and sector expertise, reflects the strength, quality, and growth potential of our business. TPG was our partner of choice given the local team’s approach to partnership, and the firm’s long track record of helping build businesses in India, and globally. We look forward to leveraging their knowledge and network as we continue to expand and enhance operations," said Krishna Kanumuri, chief executive officer, Sai Life Sciences.

Headquartered in Hyderabad, Sai Life Sciences is an integrated provider of drug discovery, development and manufacturing solutions for innovator pharmaceutical and biotechnology companies. Currently serving seven out of the top 15 global pharmaceutical companies, Sai is well-positioned to facilitate the launch of 25 new medicines by global innovator partners through 2025.

“In recent years, contract development and manufacturing companies (CDMOs) have started to gain market share as pharma innovators search for more cost-effective, efficient, and comprehensive development and manufacturing solutions," said Puneet Bhatia, co-managing partner, TPG Capital Asia.

“In Sai, we see an opportunity to partner with a high-quality, end-to-end provider offering reliable solutions for life-changing new products," he added. As part of the transaction, Puneet Bhatia and Mitesh Daga of TPG will join the company’s board of directors.

TPG’s investment in Sai Life Sciences builds on the firm’s focus on the healthcare sector. TPG has invested approximately $12 billion in the sector across a range of businesses, from device manufacturers to global providers. TPG’s healthcare investments include Par Pharmaceutical, Matrix Labs, IQVIA (formerly QuintilesIMS), Manipal Hospitals, Novotech, ShangPharma, and Adare Pharmaceuticals.

Swaraj Singh Dhanjal
" Based in Mumbai, Swaraj Singh Dhanjal is responsible for Mint’s corporate news coverage. For the past eight years he has been writing on the biggest deals in private equity, venture capital, IPO market and corporate mergers and acquisitions. An engineer and an MBA, he started his journalism career in 2014 with Mint. "
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