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Miguel Cordon · · 1 min readSingapore’s Esco Lifesciences banks $200m to expand in China, hunt acquisitions
“Singapore-based Esco Lifesciences, which supplies life science tools for the healthcare industry, has raised US$200 million in an oversubscribed series A round as it seeks to expedite expansion in China and hunt down acquisitions worldwide,” The Business Times reported.
Details:
- The round, which is said to be the largest private fundraise by an Asian life sciences firm, values Esco at more than US$800 million, according to the report.
- The company said it’s looking to acquire western tech firms and bring them over to the Asian market.
Context:
- According to Esco, its revenue sources are currently evenly split between the US, Europe, and Asia, with China being its largest and fastest-growing market.
- The round was led by US-based healthcare investment firm Vivo Capital and Denmark-based life science investor Novo Holdings. Other backers include China Investment Corporation, EDBI, K3 Ventures, and a “reputable, long-term institutional” investor, Esco said.
Editing by Jaclyn Tiu
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