The healthcare firm plans to double that investment in the next three to five years as it seeks to set foot in more countries and offers a broader range of specialized medical services, Eng said.
TE Asia Healthcare Partners, backed by private equity firm TPG Capital, expects to achieve a valuation of US$1 billion ($1.33 billion) in five years as it expands in Southeast Asia, according to its chief executive officer.
The Singapore-based company plans to invest US$90 million mainly in Malaysia and Indonesia this year, building new cardiac hospitals and repurposing an existing medical facility in Kuala Lumpur into an orthopedic center, Eng Aik Meng said in an interview. That would take TE Asia’s total investment to $260 million by the end of this year, he added.
