Temasek, Hillhouse acquire stake in China’s Aier Eye Hospital for $268m

Photo: Reuters

Singapore’s state investment firm Temasek and private equity firm Hillhouse Capital have acquired a 1 per cent stake each in China’s Aier Eye Hospital Group, according to a stock exchange filing.

In a disclosure to the Shenzhen Stock Exchange, Aier said Temasek Fullerton Alpha, an investment company under Temasek Holdings, and Hillhouse Capital have acquired a total of 61.9 million shares in the company worth about 1.9 billion yuan ($267.88 million).

The company’s controlling shareholder, Aier Medical Investment Group, sold 40.4 million shares, accounting for 1.3 per cent of the company’s total share capital, while shareholder Chen Bang sold 21.5 million shares.

Proceeds from the share sale will be used to acquire properties for Aier to build hospitals. The capital will also be used to accelerate the establishment of professional eye health insurance companies, according to the disclosure.

The acquisition comes less than a week after Aier Eye International (Singapore), a direct wholly owned subsidiary of the Chinese eyecare hospital network, offered to purchase 35 per cent of Singapore-listed ISEC Healthcare Ltd for S$67.1 million ($48.3 million).

ISEC Healthcare provides specialist medical eye care services with ambulatory surgical centres in Malaysia and Singapore.

Aier is a company incorporated in China and listed on the Shenzhen Stock Exchange. It operates a global chain of eyecare medical service institutions, which provide ophthalmic medical services as well as optometry services.

Singapore Reporter/s

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Following vacancies can be applied for (only in Singapore).   

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.