In today’s briefing:
- Global Health Pre-IPO – Stiff Competition Makes Growth Look Mediocre
- PureTech Health (PRTC LN): Continued Value Unlocking; Multiple Catalysts Are Pushing Up Stock Price
Global Health Pre-IPO – Stiff Competition Makes Growth Look Mediocre
- Global Health (Medanta) (GH IN) is looking to raise approximately US$270m in its upcoming India IPO.
- Global Health (GH) is a hospital network that operates under the Medanta brand. The firm currently has five hospitals in operation and one more planned for development.
- The company has managed to remain profitable throughout COVID-19 and even experienced margin expansion in FY22. However, its post-COVID growth might be short-lived given stiff competition amongst peers.
PureTech Health (PRTC LN): Continued Value Unlocking; Multiple Catalysts Are Pushing Up Stock Price
- PureTech Health (PRTC LN) has raised approximately $115.4 million through partial offloading of stake in Karuna Therapeutics Inc (KRTX US). PureTech will continue to hold 3.5% of Karuna’s outstanding shares.
- Following the transactions, PureTech has updated guidance to extend its operational runway to Q1 2026 from prior cash runway guidance into Q1 2025.
- Karuna plans to submit a new drug application for KarXT in schizophrenia with the FDA in mid-2023. As a co-inventor of KarXT, PureTech has the right to receive royalty.
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