GL Capital, a leading private equity firm focusing on healthcare investment in China, has spearheaded Chinese healthcare companies' foray into Southeast Asia, conducting a week-long Southeast Asia-China Healthcare Summit and business exploration from September 5th to 10th. The event was held in Jakarta and Kuala Lumpur with support from local governments and institutions, including the Indonesia Investment Authority (INA) and CGS International (CGS MY). 24 leading Chinese healthcare companies in the pharmaceutical, medical equipment, nutrition, and IVD sectors, with combined annual revenue of approximately $10bn, participated in the event.
In Jakarta, Minister of Health of the Republic of Indonesia, Budi Gunadi Sadikin and Director General of Pharmaceutical and Medical Devices, Ministry of Health, Lucia Rizka Andalusia highlighted the significant potential for healthcare investment in Indonesia driven by national healthcare reforms, discussed the legal regulations concerning pharmaceuticals and medical devices, and emphasized the importance of establishing local manufacturing facilities to strengthen national healthcare security. Minister of Investment Rosan Roeslani met with GL Capital's founder, Jeffrey Li, and the Chinese delegation, addressing inquiries from Chinese enterprises about investment opportunities in Indonesia.
In Malaysia, Jeffrey Li and the Minister of Economic Affairs, Rafizi Ramli discussed economic and healthcare industry development, with a focus on the economic transformation of Malaysia and collaboration with Chinese investors. There were discussions with other senior officials around healthcare investment opportunities in Malaysia, hospitals, medical devices, traditional Chinese medicine, medical tourism, and healthcare digitization.
The summit also attracted nearly 100 representatives, including CEOs and executives from over 30 renowned healthcare companies in Indonesia and Malaysia, such as Kalbe Farma, Southeast Asia's largest pharmaceutical group, Kimia Farma, the second-largest healthcare company in Indonesia, IHC, the largest public hospital system in Indonesia, Haldoc, the largest online consultation platform in Indonesia, Hermina, the second-largest private healthcare group, idsMED, the largest medical device distributor in Southeast Asia, and Zuellig Pharma, the largest pharmaceutical distributor in Southeast Asia.
The week-long intensive and productive discussions, along with field visits was well received by Chinese companies. Participants enhanced their understanding of the Southeast Asian market and have already entered into dialogues with local enterprises and partners. With 270 million population in Indonesia, and a developing healthcare system, Chinese healthcare companies anticipate vast potential opportunities in product distribution and localization. Malaysia on the other hand has laid a solid industrial foundation, making it an ideal destination for Chinese companies to build local manufacturing base.
Jeffrey Li, Founder of GL Capital, concluded: "Providing value-added services to our portfolio companies and advancing the development of China's healthcare industry is our top priority. By organizing the summit and exploration activities, GL Capital has opened a new chapter for long-term cooperation in the healthcare sector between China and Southeast Asia. We are committed to working with our partners to assist portfolio companies in expanding their business in the Greater China region and Southeast Asian markets, including Indonesia and Malaysia, while achieving our mutual long-term strategic goals in healthcare."
