KKR will buy a minority stake in Malaysia's Avisena Healthcare, deepening the global investment firm's push into Southeast Asia's healthcare sector amid rising investor interest.
The investment will drive Avisena's next phase of growth, including the expansion of multi-specialty offerings at its flagship hospitals in Shah Alam and construction of new greenfield hospitals within the Klang Valley, KKR said on Friday.
KKR declined to provide financial details, including the exact stake and the investment amount, when contacted by Reuters. Avisena did not immediately respond to a request for details.
In August, Reuters had reported that KKR had emerged as a preferred bidder to buy about 20% to 25% of Avisena in a deal that could be worth RM300mil to RM400mil.
KKR's healthcare portfolio in the Asia Pacific region includes Medical Saigon Group in Vietnam, Metro Pacific Hospital in the Philippines, and Japan's Topcon Corp, among others, according to its website.
Healthcare assets in Southeast Asia are drawing investor interest as rising incomes, ageing populations and demand for private medical treatment have bolstered the sector.
Malaysian conglomerate Sunway's healthcare unit raised RM2.9bil in an IPO this year, making it the country's biggest listing in nine years. TPG has hired banks to explore options for Asia OneHealthcare, including a potential sale or IPO. - Reuters
