GHO Capital and CBC Group to Create World's Largest Dedicated Healthcare Investment Firm

• Two of the world's leading specialist healthcare investors with over $21 billion AUM are joining forces to create the largest dedicated healthcare investment manager globally
• Together, the group will have presence across North America, Europe and Asia-Pacific, regions that collectively account for 90% of the global healthcare R&D spend
• With 200+ professionals across 13 offices, the new firm will allow portfolio companies to scale internationally, and give investors access to the highest growth healthcare markets

LONDON and SINGAPORE, May 20, 2026 /PRNewswire/ -- Global Healthcare Opportunities ("GHO"), a European specialist healthcare investor, and CBC Group ("CBC"), an Asian healthcare-focused asset manager, today announced they have signed a definitive agreement to create the world's largest dedicated healthcare investment manager, with over USD 21 billion in AUM.

The combination brings together two of the world's leading specialist healthcare investors, with a shared mission to deliver better, faster and more accessible healthcare globally. 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. The combined firm 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.

Both firms have built deep, long-term relationships with global investors, underpinned by more than a decade of healthcare investing. Existing funds and portfolio companies at each firm will continue to be managed by their respective investment teams, with no changes to investment mandates, governance or ownership.

The new firm will be led by a proven leadership team with two of the Co-Founders of GHO and CBC. Mike Mortimer and Fu Wei will serve as Co-Chief Executives of the combined firm, and Andrea Ponti and Alan MacKay will assume board responsibilities for oversight of group finance and group governance, respectively. The senior leadership teams across both firms will remain actively involved in day-to-day management of the new firm.

The Board will be co-chaired by Lady Mireille Gillings, PhD, Vice Chair and Co-Founder of GHO, and by Fu Wei.

"The combination is about connecting leading healthcare companies and innovations with the world's largest and most established markets and global pools of capital—by bringing together complementary strengths across Asia-Pacific, North America and Europe," said Fu Wei, Chief Executive Officer and Founder of CBC Group. "Together, we are building the world's largest dedicated healthcare investment firm to help accelerate patient access to affordable care, support innovation, and improve efficiency in addressing unmet medical needs by backing our portfolio companies and their management teams as they grow and scale impact."

"We are reinforcing our position as dedicated healthcare specialists, expanding our global reach, deepening our value creation capabilities, and empowering our portfolio companies to compete and win in an increasingly dynamic global healthcare market," said Mike Mortimer, Managing Partner and Co-Founder of GHO Capital. "By uniting our collective regional expertise, capabilities and shared commitment to identifying and growing leading healthcare companies, we are positioning ourselves to achieve strong returns, as well as further deliver on our commitment to improving global health outcomes."

"This transaction represents a pivotal moment in the evolution of both firms. Our vision has always been to back high-growth, innovation-led healthcare opportunities to deliver better, faster and more accessible healthcare. In particular, AI is a fast-evolving force in healthcare and life sciences, and so AI applications in these fields will continue to be a focus moving forward," said Lady Mireille Gillings, PhD, Vice Chair and Co-Founder of GHO Capital. "With the Asia-Pacific region accounting for 40% of global healthcare R&D spend, establishing a strong local presence is a natural and highly complementary extension of our strategy."

The senior management team is further strengthened by Michael Keyoung, MD, PhD and Hans Kang at CBC Group who will continue to lead the credit and infrastructure strategies, and Stuart Quin and Edward de Nor, co-heads of GHO's investment team.

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.

About CBC Group

Headquartered in Singapore, CBC Group, Asia's largest healthcare-dedicated asset management firm, is committed to creating value and integrating global resources. Founded in 2014, with an AUM of US$10.8 billion, CBC has a leading team of investment, industry and portfolio management professionals headquartered in Singapore with offices in Shanghai, Beijing, Hong Kong and New York, Seoul, Abu Dhabi and presences in Boston, San Diego, San Francisco and Tokyo. CBC focuses on platform-building, buyout, credit and growth-focused opportunities across multiple core areas within the healthcare sector, including pharmaceutical and biotech, medical technology and healthcare services.

CBC is committed to creating lasting value by integrating global innovations and talents. Partnering with the world's top entrepreneurs and scientists, its unique "investor-operator" approach has empowered leading healthcare companies to widen access to affordable medical care, catalyse innovations, and improve efficiency in fulfilling unmet medical needs worldwide.

For more information on CBC Group, please visit www.cbridgecap.com/ Connect with us on LinkedIn (CBC Group).

About GHO Capital

Global Healthcare Opportunities, including investment manager GHO Capital Management Limited and investment advisor GHO Capital Partners Advisory Ltd. ("GHO"), is a leading specialist healthcare investment firm headquartered in London, with an AUM of US$10.5 billion. GHO applies global capabilities and perspectives to unlock high growth healthcare opportunities, targeting Pan-European and transatlantic internationalisation to build market leading businesses of strategic global value. GHO's proven investment track record reflects the unrivalled depth of our industry expertise and network. GHO partners with strong management teams to generate long-term sustainable value, improving the efficiency of healthcare delivery to enable better, faster, more accessible healthcare.

For further information, please visit www.ghocapital.com or LinkedIn.

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SOURCE CBC Group