Competition watchdog seeks public’s views on TPG’s proposed privatisation of Econ Healthcare

[SINGAPORE] The country’s competition watchdog is seeking public feedback on the proposed acquisition of nursing home operator Econ Healthcare Asia via a public consultation that starts on Monday (Sep 8).

The Competition and Consumer Commission of Singapore (CCCS) said that it received a sole application from TPG, on Aug 29, for a decision on whether the deal would be anti-competitive.

TPG, which invests in companies across a range of industries, announced its intent to acquire Econ Healthcare in a near S$88 million deal on Feb 14.

The global investment firm submitted that a company in its controlled portfolio operates businesses that overlap with Econ Healthcare Group in the market for residential nursing home services and non-residential care services.

The company, Invest Healthcare Group, provides eldercare services in Singapore as it operates the chain of Orange Valley nursing homes and provides non-residential care services.

Meanwhile, Econ Healthcare Group, comprising Econ Healthcare and its subsidiaries, operates eight medicare centres and nursing homes, as well as provides non-residential care services in Singapore.

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TPG proposes to privatise Econ Healthcare in S$88 million deal

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Econ Healthcare Group is a private nursing home operator with a presence in China, Malaysia and Singapore.

The CCCS is inviting feedback from Monday until Sep 19, 5 pm. More information on the consultation can be found on its website.