Fosun Pharma seeks strategic Israeli partner

The Chinese company’s Hermed venture capital fund is searching for a strategic partner in Israel.

Representatives of the Hermed Fund, Chinese company Fosun Pharma's venture capital fund, are searching for a strategic partner in Israel, and are also considering investments in Israeli companies. Fosun Pharma is part of giant company Fosun, which is worth $8 billion. Fosun Pharma has been active in Israel since acquiring Alma Lasers for $240 million, and has already made investments in medical devices company Check-Cap, and Tyto Care, which makes possible remote family medicine, but these two investments were made directly by Fosun Pharma, whose venture capital fund is now looking for investments and partnerships in Israel.

The fund is not considering beginning its own activity in Israel; it is considering a connection with a local fund or a non-fund investment entity, which will act as its representative and partner in Israel. It is also considering investments in specific pharmaceutical companies at an earlier stage than the direct investments made by Fosun Pharma, and investments more distant from Fosun Pharma's core business, but which could fit in with it in the future. In a "Globes" interview six months ago, Fosun Pharma CEO Yao Fang stated that his company would make acquisitions in Israel, adding, "Maybe one day the company will only be Alma, and it will concentrate all of Fosun Pharmaceuticals' medical devices activity from Israel."

Fosun Pharma currently emphasizes generic drugs, biosimilars, diagnosis, and health services. Daniel Cohen is responsible for conducting its technology search in Israel and other countries.

Published by Globes [online], Israel business news - www.globes-online.com - on November 25, 2014

© Copyright of Globes Publisher Itonut (1983) Ltd. 2014

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