Malaysia based conglomerate Hong Leong Group and global alternative asset firm TPG are acquiring Columbia Asia Hospitals in Southeast Asia, according to an announcement.
The transaction, estimated to be $1.2 billion, is expected to be closed by the end of the year.
As part of the deal, Hong Leong Group and TPG will acquire 17 Columbia Asia Hospitals in countries such as Malaysia, Indonesia, and Vietnam. Of the total number of hospitals being acquired, as many as 12 hospitals are located in Malaysia alone. Besides, the transaction also includes the acquisition of one clinic.
While the statement clearly states that the current transaction does not take into account hospitals located in India, sources told DealStreetAsia that a global private equity (PE) firm has already evinced interest to pick up a stake in the hospital business in India.