GIC’s partnership with TPG will help AHH add more healthcare enterprises to its network
Asia Healthcare Holdings, the single speciality healthcare delivery platform backed by TPG Growth, has signed definitive documentation for a $170 million investment from Singapore’s sovereign wealth fund GIC. The investment is one of the largest in the single-speciality healthcare services sector in India.
Incubated by TPG Growth in 2016 under the leadership of Vishal Bali, AHH owns and operates South Asia’s largest single-speciality healthcare delivery platform with a unique approach to growing and scaling various single-speciality healthcare companies under one enterprise. GIC’s partnership with TPG will help AHH add more healthcare enterprises to its network. To date, AHH has invested approximately $200 million across single-speciality healthcare enterprises in oncology, mother and childcare, and Fertility. Under AHH, these entities have established market leadership in their respective verticals and regions.
“For more than five years, we have been committing significant growth capital, resources, and operational skills to create leading single-speciality businesses across the healthcare services continuum under AHH,” said Ankur Thadani, Business Unit Partner in TPG Growth.
“We are delighted to partner with AHH management and TPG to bring our long-term capital, global network, and resources to support the growth of the AHH platform,” said Choo Yong Cheen, Chief Investment Officer of Private Equity for GIC.
“The investment fits well with our strategy of investing in secular growth businesses in India and making quality healthcare more available and affordable,” said Pankaj Sood, Head of Direct Investments, India and Africa for GIC.
Barclays Bank acted as the sole financial advisor to TPG for the transaction. Shardul Amarchand Mangaldas (SAM) were the legal advisors to TPG.
