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GIC to secure majority in TPG-backed Asia Health
Mint Hyderabad
|December 05, 2024
Singapore fund may add 15% stake, turn majority owner of hospital platform
Singapore's GIC is close to raising its stake in Asia Healthcare Holdings (AHH) ahead of a potential public listing of the healthcare platform in the next year or two, four people aware of the development said.
The Singapore sovereign fund will acquire 15% more stake in AHH from majority owner TPG, one of the four people cited above said on the condition of anonymity. Once the transaction is complete, GIC will turn AHH's biggest shareholder.
AHH, which owns Motherhood Hospitals, Asian Institute of Nephrology and Urology and Nova IVF, was floated by TPG in 2017. It is led by Vishal Bali, Asia head of healthcare at TPG Growth and a former CEO at Fortis Healthcare and Wockhardt Hospitals.
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