Mourant advises on US$21 billion healthcare investment business combination

We recently advised Global Healthcare Opportunities (GHO) on a landmark business combination with CBC Group (CBC), creating the world’s largest dedicated healthcare investment manager, with over US$21 billion in AUM.

The new firm will have more than 200 investment and operating professionals across 13 offices in North America, Europe, and Asia-Pacific – regions which collectively account for around 90% of global healthcare R&D spend. This expansive footprint, network and global connectivity will enable it to capitalise on high-growth, innovation-led opportunities across the world’s largest healthcare markets.

GHO and CBC share a strong entrepreneurial, founder-driven culture underpinned by deep and complementary healthcare expertise as both investors and operators.

The new firm will empower founders, management teams and portfolio companies to develop and internationalise cutting-edge healthcare solutions, spanning pharmaceuticals, medical devices, life science tools, diagnostics, healthcare infrastructure, and healthcare IT and will be uniquely positioned to offer investors access to private equity, private credit and real estate assets focused on healthcare and life sciences.

GHO’s portfolio of North American and European healthcare companies will benefit from enhanced access to local insight and operating capability across Asia-Pacific, one of the most dynamic regions for healthcare innovation and a key growth frontier for many of the firm’s portfolio businesses. In parallel, CBC’s portfolio will be enhanced by the global market insight and execution support from an enlarged firm, enabling its Asian healthcare companies to scale with confidence, while remaining anchored in local execution.

The transaction is expected to close in early 2027, subject to customary closing conditions and regulatory approvals. GHO and CBC will continue to operate independently until the completion of the transaction, with a continued focus on delivering their existing fund mandates.

We acted as Cayman Islands counsel on the deal. Global Head of our Investment Funds team, Alex Last, led the transaction, working in collaboration with Partner Rhiannon Williams, Senior Associate Rejonté Rivers, Associates Jalen Nordmark and Jaswindha Singh, and Paralegal Charmaine Yu. In addition, Partner Sara Galletly provided regulatory advice.