Daily Brief Health Care: Healthvista India, Apollo Hospitals Enterprise, Biomarin Pharmaceutical and more

In today’s briefing:

Healthvista India Pre-IPO Tearsheet
Apollo Hospitals Enterprise (APHS IN): Set to Benefit from Medical Tourism Resumption in India
BioMarin Pharmaceutical: Initiation of Coverage – Business Strategy, Key Drivers, Financial Forecasts, DCF & Comparables Valuation, ESG & Other Risks (07/22)

Healthvista India Pre-IPO Tearsheet

Healthvista India (1370230D IN) is looking to raise about US$126m in its upcoming India IPO. The deal will be run by SBI Cap, IIFL Securities and JM Financial.
Healthvista India is an out-of-hospital healthcare service provider. Under its brand Portea, it offers services such as primary care, geriatric and palliative care, amongst others.
It also distributes specialty pharmaceuticals and provides “point of care” medical equipment for sale and rental.

Medical tourism in India was negatively impacted by the pandemic. As the government is lifting travel restrictions, reopening border, and resuming international flight services, medical tourists have started returning back.
Large corporate hospitals, having pan-India presence, like Apollo Hospitals Enterprise (APHS IN) are set to benefit from this trend. Medical tourism contributed 10% of revenue of Apollo in pre-pandemic era.
Apollo’s market dominance and expansion plan in hospital and foray into online services have sharpened its competitive edge over competitors. Its healthcare business is expected to grow mid-teens this year.

This is our first report on rare disease specialist, BioMarin Pharma.
The company had a decent start to 2022 recording $519 million in total revenues in the previous quarter.
The $20 million in Voxzogo contributions during the first quarter increased the company’s full-year 2022 guidance to between $100 million and $125 million and will play a significant role in its future growth.

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