Opening keynote from the Galen Growth Asia HealthTech Summit Overview of the key trends in the Asia Pac HealthTech ecosystem which has exceeded $5B of funding deployed in first 9 months of the year.

1. ASIA HEALTHTECH
2018 KEY TRENDS

2. $ 1.18B
TOTAL FUNDING RAISED
$6.52B
TOTAL VALUATION
Women 22%
Men 78%
2009
2010
2012
2013
2014
2015
2016
2017
2018
51STARTUPS FROM
16 COUNTRIES ACROSS
ASIA PACIFIC
10%
12%
16%
16%
Telemedicine
Wellness
Patient Solutions
Medical Diagnostics
TOP REPRESENTED CATEGORIES
FUNDING STAGE FUNNEL YEAR OF INCORPORATION
ABOUT THE STARTUP PARTICIPANTS
Source: Galen Growth Asia

3. ASIA PAC HEALTHTECH EXCEEDED 2017 TOTAL
FUNDING, DEPLOYING MORE THAN
IN THE FIRST 9 MONTHS OF 2018,
$5 BILLION
ACROSS
240 DEALS

4. $6.8B
$5.1B
USA
Asia
Pac
ASIA HEALTHTECH INVESTING IS
ROCKETING
USA
$550M
$300M
$291M
Asia Pac
$500M
$200M
$150M
Note: Q3 YTD 2018 HT Funding
Source: Rock Health; Galen Growth Asia
$2,764
$3,356
$5,118
January
February
M
arch
April
M
ay
June
July
August
Septem
ber
O
ctober
N
ovem
ber
D
ecem
ber
2016 2017 2018
ASIA PAC CAGR: 32%

5. MOST ACTIVE INVESTORS IN ASIA
Investor Country
Asia HT
Investment Count
Most Deal Stage
Participation
Sample Investees
Matrix Partners China China 48 Series A
Tencent Holdings China 30 Series A
Sequoia Capital China China 26 Series A
Accel Partners India 22 Series B
Softbank China China 21 Series B
IDG Capital China 18 Series A
Sequoia Capital China 16 Series A
Morningside Venture Capital China 16 Series B
IDG Ventures India India 15 Series B
YF Capital China 15 Series A
Source: Galen Growth Asia

6. ASIA INVESTMENT FUNNEL STAGE
VOLUME LOAD
12 mega deals (rounds exceeding $100M) in 2018
China continues to represent the lion share of
HealthTech investment 86 % by value
Growth and Late Stage deals (from Series A to
Series E) continue to gain momentum, accounting
now for two thirds of all deals being executed in
Asia by value
Significant expansion of the India digital health
ecosystem, up 76% (Q3, YoY), driven by Online
Marketplace providers
SE Asia accelerates with YTD total of $206M
doubling 2017
Source: Galen Growth Asia

7. ASIA DEALS GETTING LARGER & LATER
STAGE
64%
52% 50%
56%
48%
52% 51%
41% 42%
38%
27%
26%
23%
33%
27%
30%
27%
21%
17%
21% 26%
30%
7%
15%
4% 7%
12% 14%
14%
22%
23% 19%
21%
4%
5%
6% 2%
5%
4%
6%
11%
11%
8%
7%
2% 3%
1%
4% 1%
2% 3% 7%
8%
3% 4% 7%
1% 2%
6% 5% 3% 1%
6%
Q
1
2016
Q
2
2016
Q
3
2016
Q
4
2016
Q
1
2017
Q
2
2017
Q
3
2017
Q
4
2017
Q
1
2018
Q
2
2018
Q
3
2018
Early Series A Series B Series C Series D & Beyond Exit
11%
4% 5%
10% 9% 11%
4% 6% 8%
2% 5%
59%
61%
13%
34% 32%
21%
13%
14%
26%
5%
7%
5%
7%
4%
38%
17%
29%
45%
29%
28%
15%
26%
25%
12%
14%
7%
6%
17% 19% 41%
39%
25%
28%
15%
64%
11%
35%
22% 20%
10%
53%
34%
Q
1
2016
Q
2
2016
Q
3
2016
Q
4
2016
Q
1
2017
Q
2
2017
Q
3
2017
Q
4
2017
Q
1
2018
Q
2
2018
Q
3
2018
Early Series A Series B Series C Series D & Beyond
QoQ Volume Share History 2016 – Q3 2018 QoQ Value Share 2016 – Q3 2018
Source: Galen Growth Asia

8. WHICH CATEGORIES IS THE CAPITAL
GOING TO?
Source: Galen Growth Asia

9. 56% 45% 35% 34% 9% 5% 3% 1% 1%
Cloud
Biosensors
VoiceTech
Machine
Learning
Blockchain
Genomics
AR / VR
Analytics RWE
WHAT TECHNOLOGIES ARE ENABLING
ASIA’S HEALTHTECH INNOVATION?
Source: Galen Growth Asia

10. KEY ENABLER #1
STRATEGIC CORPORATE ACTIVITY
• Mundipharma, a pharmaco, announced its partnership with
Biofourmis, a Singapore startup
• Global insurer Prudential announced an exclusive partnership
with UK-based HealthTech venture Babylon
• Ping An Good Doctor, a China HealthTech venture and
Grab, a leading ride hailing platform in SE Asia, announced a
joint venture
• Inter Partner Assistance Hong Kong has partnered with The
CareVoice, a China HealthTech startup
• Teva, a pharmaco, announced a series of partnerships and
initiatives including a partnership with Healint, a Singapore
HealthTech startup
Source: Galen Growth Asia

11. KEY ENABLER #2
REGULATORY MORE PERMISSIVE
Singapore
MOH launches regulatory sandbox to support
development of telemedicine
China to promote Internet-powered healthcare
Xinhua | Updated 2018-04-12
BEIJING – China will greenlight medical institutions to conduct Internet
medical services as past of a broader push to promote Internet Plus he
althcare
Growing India
Modicare: India plans free healthcare for 500M
India’s Health Ministry comes out with draft rules
on sales of drugs by e-pharmacy
Delhi | September 02, 2018
The draft rules on “sale of drugs by e-pharmacy” state that no person
will distribute or sell, stock, exhibit or offer for sale of drugs through e-
pharmacy portal unless registered
China’s Alibaba and JD.com in grey area with online
drug sales
Prescription medicine freely available on websites as sellers take advantage
of loophole `
Source: Galen Growth Asia

12. EARLY PREDICTIONS FOR 2019
HealthTech is maturing into a horizontal discipline cutting
through numerous sectors driven by new entrants
Wellness, Online Marketplace and Population Health
Management categories will continue to grab the greatest
share of funding
Fastest growing focus areas: RWE and Research
Continued appetite growth by corporates to establish strategic
commercial partnerships with proven Asia HealthTech
Asia on the ascendancy led by China
PREDICTIONS