Hong Leong Group and TPG Acquire Columbia Asia Hospitals (South East Asia)

GIC Invests $170 Million in TPG-backed Asia Healthcare Holdings

February 14, 2022

Healthcare Services

Singapore sovereign wealth fund GIC has signed definitive documentation to invest $170 million in Asia Healthcare Holdings (AHH), the TPG Growth–incubated single-specialty healthcare platform in India. The capital will support AHH's continued expansion of single-specialty networks — including fertility (Nova IVF), mother & childcare (Motherhood Hospitals) and oncology — and help fund further add-on acquisitions and platform growth across South Asia.

Ascend Capital Partners Acquires Majority Stake in Seoul Medical Group (SMG)

October 25, 2023

Healthcare Services

Ascend Capital Partners, a healthcare-focused private equity partnership, has acquired a majority stake in Seoul Medical Group (SMG), a physician-run Independent Physician Association and owner of the MSO Advanced Medical Management. Ascend will provide capital and operational support to expand AMM's technology, data analytics and capabilities to improve care coordination and expand access for SMG's predominantly Korean-American patient network across multiple U.S. states.

Temasek Acquires Additional 41% Stake in Manipal Health Enterprises

April 10, 2023

Healthcare Services

Temasek has signed definitive agreements to acquire an additional 41% stake in Manipal Health Enterprises (MHE), increasing its investment in the India-based hospital network. Following the transaction, Manipal Group will hold about 30%, Sheares Healthcare Group (a Temasek subsidiary) will retain 18%, TPG will re-invest an 11% interest through TPG Asia VIII, and NIIF will exit its holding.

TPG and AmerisourceBergen Acquire OneOncology from General Atlantic

April 20, 2023

Healthcare Services

TPG has agreed to acquire a majority interest in OneOncology and AmerisourceBergen will take a roughly 35% minority stake for approximately $685 million, valuing OneOncology at $2.1 billion. OneOncology's affiliated practices, physicians, and management will retain minority ownership as the parties form a new joint venture; the network includes over 900 affiliated providers across 14 states and the deal is expected to close by the end of September 2023.

TPG Acquires 99.02% Stake in Poonawalla Housing Finance

July 27, 2023

Financial Services

TPG, through its Asia-focused private equity platform TPG Capital Asia, has completed the acquisition of a 99.02% equity stake in Poonawalla Housing Finance Limited from Poonawalla Fincorp Limited and will infuse up to INR 1,000 crore of additional equity to support growth. PHFL is a pan‑India affordable housing finance company with a deep branch network and ~Rs. 6,571 crore AUM (Jun'23); TPG intends to partner with existing management to scale the business in the affordable housing segment.

Varian Medical Systems to Acquire Cancer Treatment Services International from TPG Growth

May 20, 2019

Healthcare Services

Varian Medical Systems has signed a definitive agreement to acquire Cancer Treatment Services International (CTSI) from TPG Growth / Asia Healthcare Holdings for $283 million. CTSI operates a network of oncology hospitals, diagnostic and treatment services across India and South Asia (including the American Oncology Institute and AmPath), employs more than 1,500 people, and the deal is expected to close in roughly two weeks subject to customary conditions.