Asia-focused healthcare investor Quadria Capital today announced its investment in Malaysian diagnostics provider Lablink (M) Sdn Bhd. The financial details of the deal were not disclosed.
According to a company statement, the investment comes as part of the private equity firm’s strategy to expand into the medical laboratory services sector. It marks Quadria Capital Fund L.P.’s eighth investment in Southeast and South Asia since its launch in 2015.
“We believe that the region’s diagnostics industry is ripe for consolidation and Lablink is well positioned to become a leading pan-Southeast Asian diagnostics provider. Its ambition dovetails with Quadria Capital’s investment philosophy of supporting healthcare businesses that are focused on delivering quality care across the region,” said Quadria Capital managing partner and co-founder Abrar Mir.
“Our partnership with Lablink will allow the company to leverage Quadria Capital’s experience in growing diagnostics providers across the region, as well as other synergistic opportunities arising from our portfolio and network,” he added.
Kuala Lumpur-based Lablink is a subsidiary of private healthcare provider KPJ Healthcare Berhad; the latter acquired it in 1991 to manage all the hospital laboratories within the KPJ Group. Lablink currently provides diagnostic services to the KPJ Group of hospitals and other healthcare providers in Malaysia.
In July last year, Quadria Capital had closed an investment in FV Hospital (FV) in Vietnam and also acquired a significant stake in MWH Holdings in Singapore, the holding company for the Singapore Heart, Stroke and Cancer Centre.
In April 2017, Dabur family-owned HealthCare at Home had also raised $40 million from Quadria Capital.
Founded in 2010 by former Religare executives Amit Varma and Abrar Mir, health sector-focused Quadria has invested in over 16 companies in the Asia Pacific region through its three funds. It currently has around $1.5 billion of assets under management.