(April 9): TPG Inc has chosen Malayan Banking Bhd and UBS Group AG to help evaluate options for Asia OneHealthcare, including a sale or initial public offering, according to people familiar with the matter.
More advisers are likely to be added if TPG opts for an IPO, the people said, asking not to be identified because the deliberations are private.
Bloomberg News reported in March that TPG was considering options for Asia OneHealthcare and seeking a valuation of as much as RM30 billion (US$7.5 billion or $9.6 billion) for the company.
Considerations are still at an early stage and TPG may decide to keep the Kuala Lumpur-based medical services provider, the people said.
TPG, Maybank and UBS declined to comment.
TPG and conglomerate Hong Leong Group bought hospitals owned by Asia OneHealthcare, then known as Columbia Asia Healthcare, for about US$1.2 billion in 2019. Its name was changed to Asia OneHealthcare in September 2024 following a consolidation of assets and the acquisition of a joint venture between Sime Darby Bhd and Australian private hospital operator Ramsay Health Care Ltd.
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Other shareholders in Asia OneHealthcare include Abu Dhabi Investment Authority and Malaysia’s Employees Provident Fund.
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