IHH Healthcare to Divest Medical Education Branch, International Medical University, to Consortium Led by TPG’s The Rise Fund and Hong Leong Group

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IHH Healthcare Berhad (“IHH” or “the Group”) announced that it has entered into a definitive agreement for the sale of its medical education business, International Medical University (“IMU”), for a total enterprise value of RM1,345 million (US$306 million). The sale includes a hospital owned by IMU, which is under construction.

IHH has entered into a sale and purchase agreement for the sale of 100% of IMU to a consortium of investors led by The Rise FundTPG’s multi-sector global impact investing platform, and the Hong Leong Group. The IMU is the largest institute of higher learning focused on medicine and health in Malaysia and its hospital under construction will be acquired by Columbia Asia as part of the transaction. The transaction is expected to close by the first quarter of 2023, subject to the satisfaction of certain conditions precedent.

This disposal is in line with the Group’s continued execution of its strategy to generate efficient capital growth, which includes an ongoing review of its portfolio and capital deployment to prioritize returns and focus on long-term core assets. With the monetization of this asset, IHH will focus on strengthening its healthcare operations in existing markets and expanding its footprint in new adjacent markets based on its cluster strategy approach and which it has a good operational knowledge.

Doctor Kelvin LoDirector General and CEO of IHH, said, “The IMU has played an important role in the training of medical personnel and in the development of healthcare capacity and expertise for 30 years in Malaysia. He will continue to make a strong contribution to the sector under the new leadership. This recalibration of our portfolio is a well-considered decision within the framework of our new strategy; we will deploy the product to optimize our operations and clinical services and invest in new growth spikes for IHH.

Tunku Ali Redhauddin Tuanku Muhriz, Senior Adviser of TPG, said: “The IMU occupies a unique position in the region as malaysia first and best fully private medical education institution in its class, and thanks to The Rise Fund investment, TPG is excited to be part of its next chapter of growth, in developing future generations of international and domestic healthcare professionals, to meet the growing demand for healthcare in Malaysia and beyond. This investment is part of a global thematic focus on professional education in the medical sector and will be an important addition to the extensive healthcare and education portfolio that TPG has both globally and in Malaysia.’

Select TPG’s investments in the healthcare and education sectors by Malaysia include Gribbles, Lablink, Clinipath and Quantum – as part of Pathology Asia – Columbia Asia, CVSKL, Beacon and Alty, as well as Sri KDU, Real Schools and GEMS as part of XCL Education. The investment in the IMU is The Rise Fund second investment in medical education this year. In February, thanks to investments in the Burrell College of Osteopathic Medicine and Idaho College of Osteopathic Medicine, The Rise Fund launched the Health Education and Access Centera new integrated, mission-focused osteopathic education platform in the United States.

ON IHH HEALTH CARE

As the world’s leading integrated healthcare provider, IHH believes that making a difference starts with one simple idea: care. For real.

Our team of 65,000 people is committed to delivering a greater good for our patients, people, the public and the planet, as we live our purpose every day to touch lives and transform care.

Through our portfolio of trusted brands – Acibadem, Mount Elizabeth, Prince Court, Gleneagles, Fortis, PantaiParkway and IMU – we offer our patients comprehensive and personalized care ranging from primary to quaternary, and even ancillary services such as laboratory, diagnostics, imaging and rehabilitation.

With scale and reach in 10 countries, we continue to raise the bar for healthcare in our key markets of Malaysia, Singapore, Turkey, India, Greater China (including hong kong) and beyond.

In partnership with our stakeholders, we will co-create a sustainable future for all as we work towards our vision of becoming the world’s most trusted healthcare network.

Contact:

Penelope Koh

Investor Relations

IHH Health

Such. : +65 9820 8973

Email: [email protected]

Ong Chor Hao

WATATAWA Consulting

Such. : +65 9627 2674

Email: [email protected]

ABOUT RISE FUNDS

Rise Funds are a central pillar of TPG Rise, TPG’s global impact investing platform. Founded in 2016 by TPG in partnership with bono and Jeff SkolRise funds invest behind impact entrepreneurs and growth-stage, high-potential, mission-driven companies that are focused on achieving the goal The United Nations’ Sustainable Development Goals. Rise Funds deliver capacity and expertise across a wide variety of sectors and countries at scale, focusing on opportunities in climate and conservation, education, food and health. agriculture, financial technology, health and technology.

With about $14 billion of assets in The Rise Funds, TPG Rise Climate and the Evercare Health FundThe TPG Rise Platform is the world’s largest private markets impact investing platform committed to achieving measurable, positive social and environmental outcomes and competitive financial returns.

Contact:

Jin Zhang

Such. : +86 131 4627 7095

E: [email protected]


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