OrbiMed Asia Partners III

ADB's proposed investment in OAP III is a continuation of its strategy to increase the pace of PSOD investments in health care, as well as an endorsement of OrbiMed as the preferred fund manager given its track record and competitive positioning in the People's Republic of China (PRC) and India, two of Asia's fastest growing health care markets. OAP III will continue to focus its investment activity on companies that benefit from three primary drivers which, according to OrbiMed's in-depth market research, are creating compelling opportunities for private equity investors in Asia: (i) improving affordability and quality in the delivery of health care products and services, particularly for the largely underserved Asian consumers; (ii) increasing efficiency in the accessibility and use of health care services outside of major urban cities in Asia; and (iii) leveraging Asia's cost advantage and local strengths for the region andglobally.