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

GIC and Temasek Acquire Significant Stake in Novotech as TPG Reinvests

March 31, 2025

Healthcare Services

Affiliates of GIC and Temasek have signed binding agreements to acquire a significant stake in Novotech, with existing investor TPG Asia reinvesting. The capital will support Novotech's global growth — including expansion in the US, Europe and APAC — and enable further organic investment and transformative M&A.

SBC Medical Group Holdings to Acquire Aesthetic Healthcare Holdings (AHH)

November 18, 2024

Healthcare Services

SBC Medical Group Holdings Incorporated entered into a definitive agreement to acquire Aesthetic Healthcare Holdings Pte. Ltd. (AHH), a privately held Singapore-based multi-unit owner and operator of aesthetic treatment clinics. The all-cash transaction is scheduled to close on November 13, 2024, adding AHH’s brands and 21 outlets to SBC’s clinic network.

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.

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

September 13, 2019

Healthcare Services

Malaysia-based Hong Leong Group and global alternative asset firm TPG agreed to acquire 17 Columbia Asia hospitals and one clinic across Malaysia, Indonesia and Vietnam (India operations excluded) in a transaction valued at about USD 1.2 billion. Columbia Pacific Management (International Columbia US, LLC) will retain a minority stake while Hong Leong and TPG will scale the Columbia Asia platform across Southeast Asia.

Asia Healthcare Holdings (AHH) Acquires Nova IVI Fertility

May 2, 2019

Healthcare Services

Asia Healthcare Holdings (AHH), the TPG Growth‑backed single‑specialty healthcare platform, has signed definitive agreements to acquire Nova IVI Fertility. Nova operates 20 IVF centres across 15 Indian cities (performing more than 10,000 IVF treatments annually); the deal strengthens AHH's women & children's healthcare offering and scales its fertility capabilities across India.

EQT Invests in MHC Asia Holdings (Healthcare Benefits Administrator)

April 1, 2019

Healthcare Services

EQT Mid Market Asia III Fund has made a strategic investment in MHC Asia Holdings Pte. Ltd., a Singapore-headquartered healthcare benefits administrator serving insurers and corporate clients across Southeast Asia. The investment will support MHC's regional expansion, further development of its technology and analytics capabilities, and growth of its client portfolio.