LeapFrog plans India healthcare investment

Global private equity firm LeapFrog Investments plans to invest $80 million to $100 million in India's healthcare sector over the next two years, according to a top executive. The investment aims to capitalize on rising demand for medical services driven by expanding insurance coverage and greater use of diagnostics and preventive care. India's healthcare sector was valued at about $180 billion in 2023 and is expected to grow to $320 billion by 2028. LeapFrog is evaluating investments in hospitals, particularly those serving patients outside major cities, and specialty-care providers focused on maternal and child health, ophthalmology, and oncology. The firm is also exploring opportunities in India's pharmaceutical and medical equipment sectors. LeapFrog is investing from an $808 million fund and related co-investment vehicles, giving it more than $1 billion to deploy across Asia and Africa. The firm has already deployed a significant portion of the capital, including recent investments in the Philippines and Vietnam, but sees substantial deployment opportunities in India. LeapFrog's existing Indian investments include diagnostics provider Redcliffe Labs and digital health platform Healthify.