In response to increasing demands for specialty care, specifically in oncology, cardiology, and orthopedics, TE Asia Healthcare Partners plans to invest USD 90 million over the next 18 months to support plans to expand its offering in Singapore, Malaysia, and Indonesia. Specifically, the Singapore-based private specialty healthcare group has plans to set up a breast cancer center in Singapore, a cardiovascular hospital in Jakarta, an orthopedic hospital in Kuala Lumpur, and a second cardiac hospital outside the Malaysian capital.
Currently, TE Asia Healthcare Partners has within its portfolio of investee companies over 900 doctors, nurses, and other support staff in oncology through Integrated Oncology Centre in Hong Kong, Indonesia, Malaysia, and Vietnam, over 400 employees in Cardiac Vascular Sentral in Kuala Lumpur and its Heartology Cardiovascular Centre in Jakarta, as well as another 200 employees in orthopedic in the HSC Medical Centre in Kuala Lumpur.
According to CEO Eng Aik Meng, specialty healthcare is driving the next wave of growth in South East Asia, given a rise in chronic diseases as South East Asia’s population ages. Besides, patients are becoming more sophisticated and proactive in exploring options for their needs.
Established in 2014, TE Asia Healthcare Partners is a healthcare platform sponsored by TPG Capital. Its goal is to identify and build a portfolio of healthcare delivery assets in Asia, in partnership with high-quality medical specialists, with a focus on specialty clinics and hospitals.
(Sources: LaingBuisson; Singapore Business Review)