Hong Leong Financial Group and TPG Capital Win on Columbia Asia Hospitals Deal

Posted on 09/13/2019


Hong Leong Financial Group Berhad (HLFG) and TPG Capital signed a share purchase agreement to buy Columbia Asia Hospitals for US$ 1.2 billion. Both parties are buying 17 Columbia Asia hospitals. The portfolio consists of 12 Malaysian hospitals, 3 Indonesian hospitals, and 2 hospitals and 1 clinic in Vietnam. The seller is Seattle-based Columbia Pacific Management.

Furthermore, 11 hospitals in India are not part of the Columbia Asia Hospitals deal and will operate under International Columbia US, LLC. Columbia Asia Hospitals will continue to hold a minority interest in Columbia Asia Hospitals through International Columbia US LLC.

Hong Leong Financial Group Berhad is a conglomerate based in Malaysia.

Other bidders for the transaction were General Atlantic and Sime Darby Berhad.

Advisors

Morgan Stanley Asia (Singapore) Pte. acted as exclusive financial advisor to Columbia Pacific Management on the transaction.