Asia Healthcare Holdings raises US$ 170 mn from Singapore’s GIC

Asia Healthcare Holdings (“AHH”), the single specialty healthcare delivery platform backed by TPG Growth, has signed definitive documentation for a US$ 170 million investment from Singapore’s sovereign wealth fund GIC (“GIC”). The investment is one of the largest in the single specialty healthcare services sector in India.

Incubated by TPG Growth in 2016 under the leadership of Vishal Bali, AHH owns and operates with an approach to growing and scaling various single specialty healthcare companies under one enterprise. GIC’s partnership with TPG will help AHH add more healthcare enterprises under its network. To date, AHH has invested approximately $200 million across single specialty healthcare enterprises in Oncology, Mother and Childcare, and Fertility. Under AHH, these entities have established market leadership in their respective verticals and regions.

“At AHH, we have built a differentiated approach to bridge the demand-supply gap in healthcare services in India and the broader South Asia region by backing single specialty healthcare delivery enterprises with a combination of capital, operating expertise, and cutting-edge clinical practices to power their growth,” said Vishal Bali, Executive Chairman, AHH.

“From Cancer Treatment Services International to Motherhood and Nova IVF, our innovative operating platform has built a strong track record of turning niche single specialty providers into market leaders in a short time. We continue to see significant opportunity to add other specialty areas, and pathology diagnostics to the AHH platform. We are confident that our operating model supported by additional capital from GIC and TPG Growth, can add great value to all the cos: within the AHH fold,” added Bali.

“For more than five years, we have been committing significant growth capital, resources, and operational skills to create leading single specialty businesses across the healthcare services continuum under AHH. What we’ve created in AHH is truly differentiated and we are pleased to welcome GIC as a long-term partner to grow the platform and continue to drive improvements in healthcare quality and outcomes across a range of specialties and markets,” said Ankur Thadani, Business Unit Partner, TPG Growth.

“We are delighted to partner with AHH management and TPG to bring our long-term capital, global network and resources to support the growth of the AHH platform. The investment fits well with our strategy of investing in secular growth businesses in India and making quality healthcare more available and affordable,” said Pankaj Sood, Head of Direct Investments, India and Africa for GIC.