TPG Inc has engaged Malayan Banking Bhd and UBS Group AG to assess strategic options for Asia OneHealthcare, including a potential sale or public listing, according to a report by Bloomberg citing unnamed sources familiar with the matter.
Additional advisers could be brought on board should the firm pursue an initial public offering, the sources said, noting that discussions remain preliminary.
The healthcare platform, headquartered in Kuala Lumpur, could be valued at up to MYR30 billion (approximately $7.5bn) in a potential transaction, based on earlier market soundings.
TPG is understood to be weighing multiple exit routes but has yet to make a final decision, and retaining ownership remains a possibility.
Asia OneHealthcare was formed through the build-out and consolidation of hospital assets originally acquired in 2019, when TPG partnered with Hong Leong Group to purchase Columbia Asia Healthcare for around $1.2bn. The business was subsequently rebranded in 2024 following further expansion, including the integration of assets from a joint venture involving Sime Darby Bhd. and Ramsay Health Care Ltd.
The shareholder base also includes institutional investors such as Abu Dhabi Investment Authority.
