By Yantoultra Ngui
SINGAPORE, Aug 19 (Reuters) – KKR & Co has emerged as the preferred bidder to buy a minority stake in Avisena Healthcare in a deal that could value the Malaysian healthcare firm at about 1.5 billion ringgit ($370 million), two people with direct knowledge of the matter said.
• The parties could sign a deal as soon as early September, the people said, declining to be named as the matter is private.
• Reuters reported on July 2 that global investment firms Bain Capital, KKR and Southeast Asia-focused private equity firm KV Asia Capital had been shortlisted to buy about 20% to 25% of Avisena in a deal that could be worth 300 million to 400 million ringgit.
• KKR and Bain Capital declined to comment. Avisena Healthcare and KV Asia did not immediately respond to requests for comment.
• The deal comes as healthcare assets in Southeast Asia draw investor interest. Rising incomes, ageing populations and demand for private medical treatment have supported the sector.
• Malaysia’s Sunway Healthcare raised 2.9 billion ringgit in an initial public offering this year, the country’s biggest listing in nine years. TPG hired banks to explore options for Asia OneHealthcare, including a potential sale or IPO.
• Avisena began as a small medical facility in Shah Alam in 1996 and was rebranded in 2018, according to its website. It has since expanded and now includes Avisena Specialist Hospital, Avisena Specialist Hospital 2 and Avisena Renal Care.
• It has five medical facilities, more than 75 resident specialists across 60 specialty areas and serves more than 250,000 local and international patients annually, its website showed.
($1 = 4.0560 ringgit)
(Reporting by Yantoultra Ngui; Editing by Jamie Freed)
