Wednesday, December 8, 2021
46.1 F
Fort Worth

TPG expands Asian footprint with $1.2 billion hospital acquisition

🕐 2 min read

Fort Worth and San Francisco-based TPG is partnering with Malaysian conglomerate Hong Leong Group to acquire 17 Columbia Asia hospitals in Southeast Asia.

The $1.2 billion transaction is expected to close at the end of this year.

The acquisition includes 12 hospitals in Malaysia, three in Indonesia and two in Vietnam – all of Columbia Asia ‘s hospitals in the three countries. TPG and Hong Leong will each own 50% of the acquired property.

“As Asia’s healthcare market continues to grow significantly, we see a compelling opportunity for Columbia Asia Hospitals to expand and scale regionally,” Tunku Ali Redhauddin, a senior advisor at TPG, said in a press release. “Columbia Asia hospitals provide accessible, affordable, and high-quality care in several countries, operating under one cohesive, recognizable brand.”

The transaction also includes two clinics, one in Malaysia and one in Vietnam.

The newly-purchased facilities boast about 1,494 beds.

“We have 9 ongoing projects adding an additional bed capacity of 898 in Southeast Asia at various stages of development,” Columbia Asia Hospitals CEO Dilip Kadambi said in a statement. “With this expansion and growth baked into the company, we are looking forward to continue delivering care to our communities the ‘Columbia Asia’ way.”

The purchase agreement does not include 11 other Columbia Asia hospitals in India. Those hospitals will remain under the existing ownership of International Columbia US, which is managed by Seattle-based Columbia Pacific Management.

TPG has been active in the Asian health care market. In late July, TPG agreed to sell United Family Healthcare in China to a public investment company for $1.3 billion.

Health care has become one of TPG’s leading sectors of focus in recent years, both globally and in Asia. TPG’s past and present investments in the health care provider space have included Parkway Pantai (now part of IHH Healthcare), Healthscope, Manipal Health, TE Healthcare and Asiri Hospitals.

TPG currently manages more than $111 billion in assets around the world.

Related Articles

Our Digital Sponsors

Latest Articles

Fort Worth Business Press Logo
This advertisement will close in
00
Months
00
Days
00
Hours
00
Minutes
00
Seconds
seconds..
Click here to continue to Fort Worth Business Press

Not ready to subscribe?

Try a few articles on us.

Enter your email address and we will give you access to three articles a month, to give us a try. You also get an opportunity to receive our newsletter with stories of the day.

This field is for validation purposes and should be left unchanged.

Get our email updates

Stay up-to-date with the issues, companies and people that matter most to business in the Fort Worth.

  • Restaurants
  • Technology
  • and more!

FWBP Morning Brief

FWBP 5@5

Weekend Newsletter

  • Banking & Finance
  • Culture
  • Real Estate