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Jul 05,2018
TPG Growth’s Asia Healthcare Holdings (AHH) raises $50 million from Sheares Healthcare

AHH to leverage expertise of leading healthcare  executives and investors to transform specialty healthcare in South Asia

Mumbai – July 5, 2018 - Asia Healthcare Holdings  (AHH), an operating and investment platform founded by TPG Growth, the global  middle market and growth equity platform of TPG, today announced it has raised  $50 million from Sheares Healthcare, an investor and provider of healthcare  delivery services. Sheares Healthcare, which is wholly owned by Temasek, a  global investment company headquartered in Singapore, works closely with  portfolio companies to shape healthcare delivery, primarily in Asia, through  innovative, appropriate, and patient-focused care. The deal is subject to  closing conditions and regulatory approval.

Focusing on India and  South Asia, AHH targets investment opportunities in single-specialty healthcare  businesses and leverages its seasoned management team to deliver operational expertise  to its portfolio. The funding will be used to grow and diversify the AHH  platform. 

“With AHH, we set out  to create a unique, regional operating platform that connects single-specialty  healthcare companies with experienced, skilled healthcare executives, and  investors,” said Matthew Hobart, Partner at TPG Growth. “By deploying the  operational expertise of AHH’s management team, we’ve made outstanding progress  with our first two investments in India. Now, with the addition of  best-in-class partners at Sheares Healthcare and Temasek, we see a clear  opportunity for AHH to grow into one of the most exciting healthcare platforms  in South Asia.”

The AHH portfolio  currently consists of Cancer Treatment Services International (CTSI), a network  of single-specialty cancer hospitals across South Asia also known as  American Oncology Institute, and Bengaluru-based Rhea Healthcare Pvt. Ltd,  which operates a network of hospitals for women and children under the  “Motherhood” brand. Since partnering with AHH and TPG Growth in 2016, CTSI has  expanded from a single facility to seven. The Motherhood network has also grown  significantly since AHH and TPG invested in 2016, expanding its service lines  and growing operations from three to eight hospitals. With many more facilities  in the pipeline, both CTSI and Motherhood are on track to expand for years to  come.

The investment from  Sheares Healthcare builds on AHH’s strategy to assemble a group of leading  regional healthcare executives and global investors. Led by Executive Chairman  Vishal Bali, AHH’s management team includes Shobhit Agarwal, CFO and Head of  Business Development; Binu John, Head of Biomedical and Supply Chain; Lloyd  Nazareth, Group CEO of CTSI; Vamsi Penmecha, Head of IT; Rajesh Sivan, Head of  Real Estate and Projects; and Vijayarathna V, CEO of Motherhood. The platform  is supported by TPG Growth’s healthcare team, which has deep investment  expertise in both the sector and region.

“AHH’s specialized  mandate and experienced team, paired with the support of two preeminent  investors, creates a truly exciting and differentiated combination,” said Bali.  “Together, we will continue to support the existing CTSI and Motherhood  businesses, invest behind our operating platform, and partner with new  businesses that can benefit from the operational know-how that AHH offers.”

Healthcare is a core  focus for TPG Growth in India and globally. In addition to CTSI and Motherhood,  in India, investments have included Sutures India, which is now known as  Healthium MedTech and was sold to Apax Partners in 2018. TPG Growth also made a  significant investment in Asiri Hospitals, a leading private network of  hospitals in Sri Lanka, to help the network expand its service lines and grow  its footprint across the country and beyond.  Globally, TPG Growth’s  healthcare experience spans a variety of companies across the sector including  Evolent Health, GoHealth Urgent Care, Northstar Anesthesia, Precision for  Medicine, and RefleXion. Across platforms, TPG’s other relevant investments in  Asia include Healthscope, Manipal Hospitals, Matrix Labs, and United  Family. 

About TPG Growth
TPG Growth  is the middle market and growth equity investment platform of TPG, the global  alternative asset firm. With approximately $13.2 billion of assets under  management, TPG Growth targets investments in a broad range of industries and  geographies. TPG Growth has the deep sector knowledge, operational resources,  and global experience to drive value creation, and help companies reach their  full potential. The firm is backed by the resources of TPG, which has  approximately $84 of assets under management. For more information, visit

About Temasek
Incorporated in 1974, Temasek is a global investment company  headquartered in Singapore.

Supported by its network of international offices, Temasek owns a S$275  billion (US$197b) portfolio as at 31 March 2017, with significant exposure to  Singapore and the rest of Asia.

Our investment activities are guided by four investment themes and the  long term trends they represent: Transforming Economies; Growing Middle Income  Populations; Deepening Comparative Advantages; and Emerging Champions. 

Our investment strategy allows us to capture opportunities across the  sectors in which we invest that help bring about a better, smarter and more  connected world.  

We actively seek sustainable solutions to address present and future  challenges. Across the three pillars of the Temasek Charter, we recognise the  need to do well as an investor; to do right as an institution; and to do good  as a steward. 

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TPG  media relations contact
Snigdha  Nair
Adfactors  PR
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