The Gobi Partners-backed company is likely to enter the Philippines via joint ventures with local partners.
Navis Capital acquired Modern Star in 2014 for an undisclosed sum in a deal that valued the business at up to $169 million.
The company said this is the first of two planned acquisitions in Malaysia, the home market of competitor Carsome.
Earlier this month, Axiata ended talks with Telenor on combining their Asian operations.
The proposed divestment will enable Prince Court Medical Centre to integrate into IHH's Malaysian operations and its broader global network.
Naluri is also in the midst of expanding its operations to Indonesia, Singapore and the Philippines.
Khazanah Nasional Bhd., Malaysia’s sovereign wealth fund and the sole shareholder of the flag carrier, has hired Morgan Stanley to look at strategic
Columbia Asia's clinic in Kenya is likely to be sold with the India business, said sources.
The Hong Leong-TPG consortium is said to pay around $1.2 billion in cash for Columbia Asia Group’s business.
Indonesia’s Bank MNC International is planning to conduct a rights issue in December 2019.
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