The American investment company TPG Inc. is considering strategic options for equity participation in Asia OneHealthcare Sdn., including asset sales or IPOs. This is reported by foreign media.
TPG held talks with consultants regarding raising funds as part of the IPO, estimating the total value of Asia OneHealthcare at $7.6 billion.
The shareholders of Asia OneHealthcare also include Abu Dhabi Investment Authority and Malaysian Workers’ Pension Fund.
In 2019, Hong Leong Group and TPG bought several hospitals from Asia OneHealthcare for $1.2 billion and financed the further development of the company through internal resources and the acquisition of assets, including the Australian Ramsay Health Care Ltd. and the Malaysian conglomerate Sime Darby Bhd. for 5.7 billion ringgit in 2023.
In July 2025, Asia OneHealthcare acquired five specialty hospitals in Malaysia from TE Asia Healthcare (ALTY Orthopedic Hospital, Beacon Hospital, Cardiac Vascular Sentral Kuala Lumpur, Hospital Picasso and Northern Heart Hospital Penang).
TPG has previously been involved in other transactions in Southeast Asia, including the sale of a controlling stake in XCL Education Holdings Pte to KKR & Co. for $1.3 billion and the acquisition of data center operator STT GDC Pte for $5.2 billion.
TPG Inc. is an American alternative asset management company. The company specializes in diversified investment strategies, including private equity, credit, real estate, and market solutions. The headquarters is located in Fort Worth, Texas.
Asia OneHealthcare Sdn. Bhd. — a Malaysian multinational medical company. Asia OneHealthcare includes 13 hospitals in Malaysia, five in Indonesia and one in Vietnam and provides services in the fields of cardiology, oncology, pediatrics and orthopedics. The headquarters is located in Selangor (Malaysia).
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