Investing in global health

For more than a decade we’ve been investing in the expansion of global healthcare.

Our strategy
Meet the team
Our portfolio
Investments with impact
Careers

Our healthcare strategy

We invest in companies that are developing innovative therapeutics and diagnostics that can improve global health while also generating compelling financial returns. We work with our portfolio companies to introduce their products (vaccines, medications, medical devices and medical diagnostics) globally, including low-, middle- and high-income markets. We measure not only our financial returns, but also the number of products approved, the number of countries penetrated, and the number of lives improved or saved. Our team includes pioneers in global health investing, each working to address the critical need for capital investments that create solutions to global health challenges.

Investing in global healthcare at AXA IM Alts

Measuring impact

We analyze the impact potential for each investment and sign global access agreements with each company to ensure that we work together to enable access to as many patients as possible. We also track our impact with clear metrics that are accessible to our investors, through our proprietary web-based impact management tool, so that they know what has been accomplished through their investments. Examples from recent investments include:

Measurable results

10 million ¹

Vedanta's microbiome therapies address diseases that affect over 10 million patients annually

10,000 ²

Alydia’s Jada device for postpartum haemorrhage has received FDA Clearance and been used in over 10,000 cases in the US.

5% ²

As the Jada device enters high-volume markets in Africa and India, it could be used in up to 5% of deliveries and save tens of thousands of lives annually.

Global healthcare at AXA IM Alts

A team of healthcare and investment experts dedicated to creating lasting global health impact and supported by a market-leading platform.

Meet the team

Our portfolio

In March 2023, AXA IM Alts announced its investment of $25 million into Axena Health⁴ , a new women’s health medical device company, established by AXA IM Alts’ Global Healthcare Private Equity Strategy. Axena Health used certain proceeds from the investment to acquire substantially all assets of Renovia, which developed and commercialized the Leva® Pelvic Health System, a FDA-cleared, non-surgical, drug-free, prescription medical device and digital therapeutic indicated for the treatment of urinary and fecal incontinence. Read the full press release here or visit the company website.

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In October 2022, AXA IM Alts announced a new investment by its Global Healthcare Private Equity Strategy with an investment of $28.5 million into CXL Ophthalmics, Inc. (‘CXLO’)⁵ , a US-based, clinical-stage developer of a minimally invasive treatment for keratoconus. AXA IM Alts is the lead investor in CXLO’s $32 million Series A funding round, joined by a syndicate of individual investors. Keratoconus is a bilateral, progressive corneal degenerative disease, leading to compromised vision and blindness when untreated. Read the full press release here or visit the company website.

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In September 2022, AXA IM Alts announced its investment of $24 million, the first from its Global Healthcare Private Equity strategy, into Maternal Newborn Health Innovations (‘MNHI’)⁶ , a US-based public benefit corporation established to reduce the substantial burden of maternal and newborn mortality worldwide. AXA IM Alts is the lead investor in MNHI’s $26 million Series A financing round. Beginning in 2023, MNHI plans to commercialize a new medical device designed to reduce maternal and newborn deaths and complications resulting from prolonged or complicated second-stage labour during childbirth. Read the full press release here.

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In April 2023, AXA IM Alts announced a direct USD $25 million investment as part of a c. USD $106.5 million financing round into Vedanta Biosciences (Vedanta)⁷ , a clinical-stage biopharmaceutical company. Vedanta is conducting trials of its oral therapies, which re-establish the bacterial balance in patients’ small and large intestines. This investment will enable Vedanta to complete a pivotal Phase III clinical study in recurrent Clostridium difficile infection, a Phase II study in ulcerative colitis, as well as development work in malnutrition. Read the full press release here or visit the company website.

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Investments with impact

            Access to quality, affordable healthcare remains a key issue in many emerging economies. Our private equity healthcare strategy aims to contribute to address this by investing in companies with solutions that can be manufactured at low price points and are effective, durable and easy to use.  This makes the companies viable in low-resource settings, and also more attractive in high-income markets. This enables meaningful impact in high volume markets, while at the same time delivering attractive financial returns.

Investment focus

Stage: We finance companies needing capital for late-stage clinical development (within 2-3 years of regulatory approval) as well as early commercialization.

Indications of Interest: Our therapeutic remit includes a multitude of indications including infectious diseases, maternal & child health, vision, diabetes and obesity, asthma, trauma, cardiovascular, respiratory and oncology, amongst others.

Lead: We typically lead or co-lead investments, but are comfortable joining syndicates as well.

Impact: Each investment must support products that can improve global health. We aim to deploy our capital, and use our global networks and expertise to help companies get products to patients, including disadvantaged populations, whilst generating attractive financial returns for shareholders.

Investing at scale

To create real impact, we invest in healthcare solutions at scale. We target late-stage clinical or early commercial-stage companies and work with them to access as many markets as possible. Our strategy builds a bridge between the innovations of high-income markets, and the high-volume markets of emerging economies.

Investing with a clear goal

Taking the UN’s Sustainable Development Goals as our framework, we identify investments that create real, measurable impact – at scale – on healthcare access and provision for communities who need it most.

Responsible Investing

While demographic and economic changes are rapidly changing the needs for healthcare in high-volume markets, Private capital can contribute to a more equal access to healthcare globally while at the same time offer investor access to attractive investment opportunities in markets where experience and deep knowledge of the healthcare landscape is key to deliver financial returns.
Discover more in this video with Zina Affas Besse, Deputy Head of Healthcare Private Equity at AXA IM Alts, Jonathan Dean, Head of Fund Management at AXA IM Alts.

Explore Impact Investing

Healthcare infrastructure

                                    As a healthcare investment leader, we leverage the expertise of AXA Investment Managers in private equity, real asset investment and infrastructure to build a platform with the ability to help portfolio companies succeed globally. Beyond AXA IM’s activity as an investor across the healthcare spectrum, we also benefit from the wider brand recognition, which the AXA Group carries in healthcare as a major pillar of the business. This brings unique market access and value creation opportunities. 
                

One unified platform

Our unified platform covering several asset classes allows us to better leverage our expertise and market insights in the diverse healthcare sector. In addition to investments in funds and private companies developing solutions for cholera, HIV, Covid-19, postpartum haemorrhage and other global health conditions, we have invested in healthcare real assets and infrastructure, giving us a comprehensive understanding of the healthcare industry.

Investing in high growth assets

In 2020 we acquired Kadans, a leading owner and operator of science parks and lab offices in Europe. Through this investment we were able to build immediate scale in a sector that offer essential healthcare solutions in key markets and gives us introductions to innovators across the continent.

Investing in leaders

We acquired Amedes, a provider of medical diagnostics services in Germany, Belgium and Austria, in 2021. The investment gave us access to their 75+ laboratories and specialty medicine sites, supporting sectors ranging from fertility medicine to rheumatology and oncology.

Careers

Interested in joining us and investing in what matters? We’re always looking for likeminded new team members.

Join us

Risk Warning

No assurance can be given that our strategies will be successful. Investors can lose some or all of their capital invested.

Disclaimer

Companies or assets are shown for illustrative purposes only and should not be considered as advice or a recommendation for an investment strategy.

This marketing communication does not constitute on the part of AXA Investment Managers a solicitation or investment, legal or tax advice. This material does not contain sufficient information to support an investment decision.
Due to its simplification, this document is partial and opinions, estimates and forecasts herein are subjective and subject to change without notice. There is no guarantee forecasts made will come to pass. Data, figures, declarations, analysis, predictions and other information in this document is provided based on our state of knowledge at the time of creation of this document. Whilst every care is taken, no representation or warranty (including liability towards third parties), express or implied, is made as to the accuracy, reliability or completeness of the information contained herein. Reliance upon information in this material is at the sole discretion of the recipient. This material does not contain sufficient information to support an investment decision.

ESG disclaimer

The ESG data used in the investment process are based on ESG methodologies which rely in part on third party data, and in some cases are internally developed. They are subjective and may change over time. Despite several initiatives, the lack of harmonised definitions can make ESG criteria heterogeneous. As such, the different investment strategies that use ESG criteria and ESG reporting are difficult to compare with each other. Strategies that incorporate ESG criteria and those that incorporate sustainable development criteria may use ESG data that appear similar but which should be distinguished because their calculation method may be different.