GIC boosts investment by $150m in Asia Healthcare Holdings

The former Deutsche Bank executive joins in Hong Kong as Apac head of healthcare and real estate.

Co-investors in the take-private deal for the healthcare firm include 65 Equity Partners, the Employees Provident Fund and China’s Silk Road Fund.

The $400m deal will see global PE firm acquire up to 54% of equity from CVC, and up to a total 77% stake of the Indian cancer care specialist; KKR made several significant investments into Indian healthcare firms last year, as regional PE deals bounceback.

Ken Tung has been appointed head of industry group, healthcare, Apac, in addition to his role of head of financial sponsors coverage, Apac.

Temasek's SeaTown Holdings-backed Foundation Healthcare Holdings debuts on the SGX Mainboard, while Chinese electronic components manufacturer Luxshare leads lukewarm IPOs in Hong Kong.

India’s largest multispecialty hospital network by bed capacity opened more than 10% above its offer price. In another deal, KKR has acquired Hyderabad-based hospital chain Medicover Hospitals India, as the country’s private healthcare market grows.