TPG Growth-founded Asia Healthcare platform raises $50m from Temasek unit

Panacea Venture

TPG Growth-founded healthcare platform Asia Healthcare Holdings (AHH) has raised $50 million from Temasek-owned Sheares Healthcare, an investor and provider of healthcare delivery services.

The investment from Sheares Healthcare builds on AHH’s strategy to assemble a group of leading regional healthcare executives and global investors, AHH said in an announcement, adding that the funding will be used to grow and diversify the platform.

Led by executive chairman Vishal Bali, AHH focuses on India and South Asia, targets investment opportunities in single-specialty healthcare businesses and leverages its seasoned management team to deliver operational expertise to its portfolio.

Sheares Healthcare, meanwhile, works closely with portfolio companies to shape healthcare delivery, primarily in Asia, through innovative, appropriate, and patient-focused care.

“By deploying the operational expertise of AHH’s management team, we’ve made outstanding progress with our first two investments in India. Now, with the addition of best-in-class partners at Sheares Healthcare and Temasek, we see a clear opportunity for AHH to grow into one of the most exciting healthcare platforms in South Asia,” said Matthew Hobart, Partner at TPG Growth.

TPG Growth is the middle market and growth equity investment platform of TPG which has approximately $84 of assets under management. Healthcare is a core focus for TPG Growth in India and globally.

With approximately $13.2 billion of assets under management, TPG Growth targets investments in a broad range of industries and geographies.

AHH portfolio currently consists of Cancer Treatment Services International (CTSI), a network of single-specialty cancer hospitals across South Asia and Bengaluru-based Rhea Healthcare Pvt. Ltd, which operates a network of hospitals for women and children under the “Motherhood” brand.

Incorporated in 1974, Temasek is a global investment company headquartered in Singapore. It owns a $197 billion portfolio as at 31 March 2017, with significant exposure to Singapore and the rest of Asia.

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