Healthcare

KKR buys into Philippine hospitals operator amid Asian healthcare boom

Public investors miss out, at least for the time being, as Metro Pacific Investments shelves its planned $1.6 billion IPO of the fast-growing Metro Pacific Hospitals.

US private equity firm KKR has swooped in to buy a stake in the Philippines’ biggest private hospital chain, Metro Pacific Hospital Holdings, blocking a potential $1.6 billion listing and bolstering its ties with the powerful Salim family.

Metro Pacific Investments, the indebted infrastructure investment firm, said it will raise P35.3 billion $684 million from the sale to KKR of shares and bonds in its fast-growing hospital chain, according to a filing with the Philippines stock exchange on Tuesday.  

The deal comes as more Filipinos seek premium medical services, driven by rising per-capita incomes and rapid urbanisation. The country's healthcare market is...

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