GIC invests further US$150 million in Asia Healthcare Holdings

GIC announced on Wednesday (Dec 18) that it will be investing an additional US$150 million in Asia Healthcare Holdings (AHH), a healthcare delivery platform from South Asia.

This comes after the city state’s sovereign wealth fund’s first investment of US$170 million in AHH earlier in February 2022.

Founded in 2016, AHH is a single speciality investing and operating healthcare platform backed by GIC and TPG Growth, the growth equity and smaller buyout investment arm of TPG Capital.

Its platform today includes Motherhood hospitals, fertility solutions provider Nova in-vitro fertilisation (IVF), and Asian Institute of Nephrology and Urology (AINU) hospitals.

Motherhood is a pan-India chain of mother and childcare hospitals offering comprehensive services from pre-conception to post-birthing care for women, a range of services under paediatric care, and the largest network of neonatal intensive care units.

AINU is India’s only Urology and Nephrology speciality hospital network recognised for urological care, including robotic surgery and high-end nephrology procedures.

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To date, AHH has invested around US$300 million across hospital chains in the areas of oncology, mother and childcare, urology and nephrology, and IVF and fertility under the daycare speciality.

Vishal Bali, executive chairman of AHH, said that the company was started as a healthcare delivery platform that would invest, transform and grow single speciality enterprises under one holding company,

“Over the years, our differentiated investment approach has since delivered strong growth opportunities to bridge the demand-supply gap of healthcare services in India,” he added.

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Choo Yong Cheen, chief investment officer of private equity at GIC said: “As a long-term investor, we are confident in India’s single speciality healthcare sector, which has strong tailwinds for growth driven by increasing per capita income, urbanisation, high awareness of speciality care, and improved supply of high-quality clinics. AHH’s potential to expand into newer sub-segments positions it well for continued success.”