Hong Kong-based private equity firm PAG has invested $200 million in US-headquartered pharmaceutical company RK Pharma, reported AVCJ.

With operations in the US and India, RK Pharma Inc is a privately held firm focusing on the development, manufacturing, and sale of high-quality and affordable generic pharmaceutical products.

PAG focuses on the APAC region, investing across private equity, private debt, hedge funds, and real estate. The firm had raised at least $2.2 billion for its latest Asia-focused buyout fund in March this year.

An investor in Nasdaq-listed consumer lending firm LexinFintech and auto aftermarket platform New Carzone, PAG’s PE unit mainly makes investments in the consumer, TMT, healthcare, financial services, as well as business products and services industries.

Investors are increasingly looking to ramp up their investments in India’s healthcare sector, riding on the abatement of the pandemic and unmet demand for healthcare services in the country.

In April this year, Singapore state investor Temasek had acquired an additional 41% stake in Indian healthcare company Manipal Health Enterprises. Temasek is also in talks to invest in Kids Clinic India, which operates the Cloudnine Group of Hospitals, as first reported by DealStreetAsia last year.

Earlier  in September last year, Jodhpur-headquartered ASG Eye Hospitals raised a whopping $188 million (Rs 1,500 crore) led by PE firms General Atlantic and Kedaara Capital.

Among deals closed in 2022, Ontario Teachers’ Pension Plan (OTPP) acquired a significant majority stake in Sahyadri Hospitals chain from the Everstone Group in India.