Carlyle Hire Targets Health Care in China -- WSJ
June 21 2016 - 3:02AM
Dow Jones News
By Rick Carew
HONG KONG -- Carlyle Group LP has hired a former senior Johnson
& Johnson executive to advise on investing in China's
health-care sector, as a raft of reform measures attracts more
private-equity firms to the industry.
Jesse Wu, 59, became a senior adviser to Carlyle's Asian buyout
fund last week, helping to scout deals for the U.S. private-equity
firm and expand its portfolio companies in the health-care
industry. Mr. Wu previously ran Johnson & Johnson's operations
in China and had oversight of the New Brunswick, N.J.-based
company's global consumer group.
Consumers are increasingly paying a premium for top-quality
health-care services across Asia. Private-equity firms and other
investors have tried to capitalize on that by putting money into
private hospitals and a crop of emerging biotech firms in China and
elsewhere.
"You can no longer just be a generalist private-equity investor
in Asia, " said X.D. Yang, co-head of the Carlyle Asia buyout team,
in an interview. "Health care is one of the sectors where industry
expertise is important."
Carlyle's Asia buyout fund has made a number of investments in
the health-care industry across Asia, putting more than $1.3
billion into seven deals. Those include investments in hospital
services, such as Australia's Healthscope, and medical-device
makers, such as China's Haier Bio-Medical and Laboratory Co. The
private-equity giant has yet to invest in the pharmaceutical
industry in Asia.
Mr. Yang said the former Johnson & Johnson executive will
help Carlyle navigate China's health-care policy changes and
evaluate prospective investment targets' management teams, as well
as mentor them after Carlyle invests. The buyout fund also has
three operating partners that help its portfolio companies in Asia
outside Japan.
Write to Rick Carew at rick.carew@wsj.com
(END) Dow Jones Newswires
June 21, 2016 02:47 ET (06:47 GMT)
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