Singapore’s GIC buying 16% stake of Sunway Healthcare for RM750m

Sunway said Greenwood’s investment will allow the proposed Sunway Healthcare Group to accelerate its intended expansion plans while prudently managing the financial risk profile of both the proposed Sunway Healthcare Group and the Sunway Group.

KUALA LUMPUR: Singapore’s sovereign wealth fund GIC (Ventures) Pte Ltd is investing RM750mil for a 16% stake in Sunway Group’s healthcare business which will enable the latter to accelerate the expansion of its medical facilities including building new hospitals.

In a statement on Wednesday, Sunway Bhd said Greenwood Capital Pte Ltd – an indirect unit of GIC Ventures – had entered into a share subscription agreement to acquire the stake in Sunway Healthcare Sdn Bhd.