The deal would value the businesses at about $460 million including debt. Read more at straitstimes.com.
KUALA LUMPUR – Templewater, a private equity firm, is buying Luye Medical Group’s oncology and cardiology businesses in Singapore.
Templewater and Luye Medical were nearing a deal for a 51 per cent stake, valuing the businesses at about $460 million including debt, people familiar with the matter have said. Novena Heart Centre offers cardiac services including coronary intervention, heart failure management and cardiac imaging via three clinics in Singapore, according to its website.
The deal is the firm’s first in the healthcare sector and its second in South-east Asia, according to founding partner Cliff Zhang.
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