TE Asia Healthcare to inject $119.85m for expansion plans

The group cites soaring demand for specialty care as the reason for its expansion.

TE Asia Healthcare Partners has revealed its plans to expand more of its specialty healthcare centres across Singapore, Malaysia and Indonesia, stating soaring demand for specialty care specifically in oncology, cardiology and orthopaedics as the main reason.

Group CEO Eng Aik Meng said specialty healthcare would drive the next wave of growth in Southeast Asia.

“We are seeing a rise in chronic diseases as Southeast Asia’s population ages. This has fuelled demand at specialty hospitals and centres where doctors and staff are able to provide high quality care by leveraging their expertise to deliver focused solutions,” Eng said.

In the next 18 months, the group plans to invest $119.85m (US$90m) to set up a breast centre in Singapore, a cardiovascular hospital in Jakarta, an orthopaedic hospital in Kuala Lumpur (KL), and a second cardiac hospital outside the Malaysian capital.

Currently, TE Asia has within its portfolio of investee companies over 900 doctors, nurses and other support staff in oncology through Integrated Oncology Centre in Hong Kong, Indonesia, Malaysia and Vietnam, over 400 in Cardiac Vascular Sentral in KL and its Heartology Cardiovascular Centre in Jakarta, and nearly 200 employees in orthopaedic in the repurposed HSC Medical Centre in Kuala Lumpur.

TE Asia was jointly founded in 2014 by Mr Eng and TPG, which previously invested in the Parkway group.