Singapore’s sovereign wealth fund, the Government of Singapore Investment Corporation (GIC), will invest $150m in India-based Asia Healthcare Holdings (AHH), acquiring a majority stake in the venture. AHH is an investment platform for the healthcare industry which is backed by the GIC and the American private equity company TPG capital.
In February of 2022, GIC invested $170m into AHH. As part of the investment, TPG would help AHH increase single-specialty healthcare entities in their network.
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AHH was founded in 2016 and is mainly a single specialty investing and operating healthcare platform for the South Asia region. On its platform, it has Motherhood hospitals, fertility solutions provider Nova and the Asian Institute of Nephrology and Urology (Ainu) hospitals.
As of its founding, AHH has invested $300m in hospitals with a special focus on oncology, women’s healthcare, urology, nephrology, IVF and fertility.
Chief investment officer of private equity at GIC Choo Yong Cheen said, “As a long-term investors, we are confident in India’s single specialty healthcare sector, which has strong tailwinds for growth driven by increasing per capita income, urbanisation, high awareness of specialty care, and improved supply of high-quality clinics. AHH’s potential to expand into newer sub-segments positions it well for continued success.”
GIC also recently partnered with German reinsurer MEAG to invest €1.4bn ($1.47bn) in US-based operator Vantage Data Centre’s EMEA platform.
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