A consortium led by previate fairness participant Affinity Fairness Companions has offered its 100% stake in Malaysia’s Island Hospital to IHH Healthcare (IHH), a Kuala Lumpur-headquartered worldwide healthcare group.
The 100% sale at a worth of RM4.2 billion ($966 million) consists of Affinity’s 78% stake, with the rest of the shares belonging to the founder & CEO, Mark Wee, and senior docs of the hospital.
Based in 1996, Island Hospital (pictured) is a number one 600-bed healthcare supplier in Penang, Malaysia, with 119 specialists throughout 40 medical and surgical specialties. Island Hospital attracts round one in three inbound international sufferers to Malaysia, in response to an announcement from Affinity. Medical tourism is likely one of the quickest rising components of the Malaysian non-public healthcare market.
Beneath Affinity’s possession, Island Hospital expanded its unique 300-bed facility, by way of the event of the adjoining Peel Wing throughout the pandemic. Further land has been acquired with approvals secured for future improvement, a media announcement stated.
Since Affinity purchased the hospital in 2015 for an undisclosed quantity, Island Hospital expanded its medical and surgical choices by way of recruitment and investments in medical infrastructure, leading to a tripling of international affected person volumes. Throughout this era, profitability greater than tripled, pushed by mofd advanced circumstances, and better working effectivity from the doubling of mattress capability, in response to the announcement.
Island Hospital additionally invested in its core specialties of orthopaedics, gastroenterology and normal surgical procedure, and established new centres of excellence in cardiology and most cancers.
Rippledot Capital Advisors acted as the only real monetary advisor to the Affinity-led consortium on this transaction.
“Island Hospital’s evolution into a number one healthcare establishment that positively impacts the neighborhood, stakeholders, and serves as a beacon of medical excellence in Malaysia and past . . . I’m assured that Island Hospital will proceed to thrive underneath the IHH platform,” stated Tang Kok Yew, founding chairman and managing accomplice, Affinity Fairness Companions, in an announcement.
Affinity Fairness Companions is likely one of the largest unbiased non-public fairness companies in Asia Pacific (Apac), investing in Asia Non-public Fairness since 1998. Affinity has $14 billion of belongings and funds underneath administration, and is at the moment investing out of Fund V, a $6 billion fund. Affinity’s funding focus consists of Korea, Australia, New Zealand, Southeast Asia, and Better China.
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