Deals
TPG, Hong Leong Buy Southeast Asian Hospitals for $1.2 Billion
- Assets include 17 hospitals in Malaysia, Indonesia, Vietnam
- Purchase marks TPG’s re-entry into hospitals in the region
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TPG Capital agreed to buy hospitals from Columbia Asia for $1.2 billion with Malaysian conglomerate Hong Leong, as the global buyout firm boosts investments in companies driven by domestic consumption.
The deal includes 17 hospitals and one clinic with locations in Malaysia, Indonesia and Vietnam, according to a statement Friday. Columbia Asia’s 11 hospitals in India aren’t part of the transaction, which is expected to close at the end of 2019. The buyers will each own 50% of the acquired assets.