Asia Healthcare Holdings raises $150 million from GIC

Bengaluru-based Asia Healthcare Holdings (AHH), a single specialty hospitals-focused healthcare platform backed by GIC and TPG, on Wednesday said that GIC, Singapore’s sovereign wealth fund, would invest an additional $150 million in AHH.

This follows GIC’s first investment of $170 million in AHH in February 2022. To date, AHH has invested approximately $300 million across hospital chains in oncology, mother and childcare, urology and nephrology, IVF and fertility under day-care specialty.

According to a statement, AHH’s platform currently includes Motherhood Hospitals, Nova IVF, and Asian Institute of Nephrology & Urology (AINU) hospitals.

“We started AHH as a healthcare delivery platform that would invest, transform and grow single speciality enterprises under one holding company,” said Vishal Bali, Executive Chairman, AHH.

Over the years, AHH’s differentiated investment approach has delivered strong growth opportunities to bridge the demand- supply gap of healthcare services in India, he claimed.

“Looking ahead, we continue to see huge growth opportunities in single specialty healthcare delivery enterprises,” Mr. Bali added.

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

Since TPG Growth first incubated AHH in 2016, the fund stayed focused on a differentiated approach to healthcare investing,said Ankur Thadani, Partner at TPG.