Texas-based TPG buys 28% of Asiri shares

10 December 2015 06:14 am - 0     - {{hitsCtrl.values.hits}}

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Texas-based global investment giant, TPG, one of the world's largest private equity (PE) funds, has bought 28 percent of the shares of Asiri Hospital Holdings PLC in a transaction of over Rs. 7.5 billion this morning from Actis Investment Holdings SL Limited.

“We’ve seen significant growth opportunities in healthcare across the globe, and particularly in Asia. Asiri’s management team is addressing this demand in Sri Lanka in a very meaningful way. We look forward to partnering with the Company to support their growth and help them continue this momentum,” TPG Growth in Asia Senior Healthcare Advisor Vishal Bali said.

Established in 1980, Asiri has a network of four hospitals representing 30 percent of the private healthcare market in Sri Lanka. This is not TPG’s first foray into the country, as it bought a 75 percent share of Union Bank Colombo PLC for US$ 117 million last year.

Asiri recently expressed interest in purchasing the shares of the state-owned Lanka Hospital Corporation PLC.

 
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