TPG, a leading global alternative asset firm, announced on Monday it has secured a majority investment in iNova Pharmaceuticals, an independent consumer healthcare and medicine products company.

"Our investment in iNova is timed as the world emerges from COVID-19 pandemic and consumers are increasingly mindful of preventative and early treatment across a range of symptoms, particularly upper respiratory, cold and flu," said Joel Thickins, co-managing partner of TPG Capital Asia and head of Australia and New Zealand.

"iNova was a natural match for TPG's expertise, sector insights and track record in building regional and global healthcare champions," he said. iNova Pharmaceuticals mainly distributes a wide range of market-leading, branded prescription medicines and consumer healthcare products to over 20 countries across Asia, Australia and Africa.

TPG's existing portfolio of fast-growing healthcare and consumer companies include Novotech, Greencross, Made and Funlab in Australia, and One Health Asia, Pathology Asia, Sai Life and Kangji in Asia.

TPG Managing Director Vincent Wong added TPG is attracted by the opportunity to partner with it to help accelerate its growth strategy, leveraging its regional connectivity and capacity to invest in technology and innovation.