IMU is described as the largest medical and healthcare-focused higher education institute in Malaysia.
IMU’s under-construction hospital will be acquired by Columbia Asia, itself jointly held by TPG and Hong Leong, as part of the transaction.
The transaction is expected to complete by 1Q 2023.
With the monetisation of this asset, IHH will focus on growing its healthcare operations in existing markets.
“This recalibration of our portfolio is a considered decision as part of our new strategy; we will deploy the proceeds to optimise our operations and clinical services plus invest into new growth peaks for IHH,” says IHH’s managing director and CEO Dr Kelvin Loh.
Tunku Ali Redhauddin Tuanku Muhriz, TPG senior advisor describes IMU as uniquely positioned in the region as Malaysia’s first and best-in-class fully private medical education institution.
“This investment is part of a thematic focus globally on professional education in the medical sector and will be a strong addition to the extensive healthcare and education portfolio that TPG has both globally and in Malaysia,” he adds.
IHH’s Singapore quoted shares closed June 7 at $2.03, unchanged for the day, and down 7.73% year to date.
