Singapore firm Esco Lifesciences closes US$200 mil Series A round with Novo, GIC among backers

Photo: Bloomberg

Esco Lifesciences Group, a Singapore firm that pivoted from washing lab gowns to making high-tech equipment, raised US$200 million ($264.8 million) from some of the world’s biggest healthcare investors, paving the way for a possible listing in Hong Kong this year.

The funding round led by Danish investment giant Novo Holdings and US investor Vivo Capital also included Chinese sovereign wealth fund China Investment Corp, according to a statement from Esco. Other new backers include Singapore’s GIC, with the fundraising giving the company a valuation of US$800 million, according to people familiar with the matter, who asked not to be identified as the details aren’t public.

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