The US private equity major TPG Growths healthcare platform — Asia Healthcare Holdings — has raised $50 million from Singapore’s Temasek Holdings.
Asia Healthcare has made two investments, namely Rhea Healthcare Pvt Ltd, which runs a hospital chain under the Motherhood brand, and Cancer Treatment Services International (CTSI). Asia Healthcare had also acquired a 65 per cent stake in CTSI for $33 million in 2016 and targets investment opportunities in single-specialty healthcare.
CTSI has expanded from a single facility to 7 and Motherhood network has also grown with this partnership.
We will continue to support the existing CTSI and Motherhood businesses, invest in our operating platform, and partner with new businesses that can benefit from the operational know-how that Asia Healthcare offers, said Vishal Bali, the utive Chairman, AHH.
Other bets of Temaseks Healthcare include”Global Health and HealthCare Global Enterprises Ltd, which runs Medanta Hospital and HCG chain of cancer-care hospitals respectively.
Temasek invested in Asia Healthcare through its wholly owned arm Sheares Healthcare, which works closely with portfolio companies through innovative, appropriate, and patient-focused care in making healthcare delivery more efficient.