IHH considers offer for Malaysian hospitals in TPG sale process
The assets could be valued at around US$6 billion (RM24.5 billion) to US$8 billion, while a listing remains under consideration.
IHH Healthcare Bhd is weighing a possible offer for Malaysian hospital assets offered for sale by TPG-backed Asia OneHealthcare Sdn Bhd, people aware of the discussions said. They expect initial bids by the end of October, although a transaction is not assured.
Some of those people estimated a potential valuation of around US$6 billion (RM24.5 billion) to US$8 billion. They spoke anonymously because the process remains confidential.
TPG Inc has sought interest from prospective bidders, including Warburg Pincus, the people said. Blackstone Inc, EQT AB and KKR & Co are also assessing possible offers.
Alongside the sale discussions, TPG is considering taking the Malaysian business public. Bloomberg News previously reported a confidential filing for an initial public offering in Kuala Lumpur, with potential proceeds of up to RM10 billion.
The business was called Columbia Asia Healthcare when TPG and Hong Leong Group acquired it in 2019. It became Asia OneHealthcare in 2024 following an asset consolidation and the acquisition of a joint venture involving Sime Darby Bhd and Ramsay Health Care Ltd. Its stakeholders also include Malaysia’s Employees Provident Fund and the Abu Dhabi Investment Authority.
IHH, TPG, Warburg Pincus, Blackstone, EQT and KKR representatives declined to comment. Queries to an Asia OneHealthcare spokesperson went unanswered.
