TPG: 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” Where “the group“) today announced that it has entered into a definitive agreement for the sale of its medical education arm, International Medical University (“IMU“), for a total enterprise value of RM1,345 million ($306 million). The sale includes a hospital owned by IMU, which is under construction.

On June 7, 2022, IHH entered into a sale and purchase agreement for the sale of 100% of IMU to a consortium of investors led by The Rise Fund, TPG’s multi-sector global impact investing platform, and the Hong Leong group. IMU is Malaysia’s largest medical and healthcare tertiary institution and its under-construction hospital 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.

Dr Kelvin Loh, Managing Director and CEO of IHH, said: “IMU has played an important role in the training of medical personnel and the development of healthcare capacity and expertise for 30 years in Malaysia. It will continue to make a strong contribution to the sector under the new This recalibration of our portfolio is a considered decision as part of our new strategy; we will use the profits to optimize our operations and clinical services, and we will invest in new growth peaks for IHH.”

Tunku Ali Redhauddin Tuanku Muhriz, Senior Advisor TPG, said: “IMU is uniquely positioned in the region as Malaysia’s first and best fully private medical education institution, and thanks to The Rise Fund’s investment, TPG is delighted 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 training 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.”

Some of TPG’s investments in Malaysia’s health and education sectors 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 IMU is The Rise Fund’s second investment in medical education this year. In February, through investments in Burrell College of Osteopathic Medicine and Idaho College of Osteopathic Medicine, The Rise Fund launched the Center for Health Education and Access, a new integrated, mission-driven osteopathic education platform for United States.

ABOUT IHH HEALTHCARE
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, Pantai, Parkway and IMU – we offer our patients comprehensive and personalized care from primary to quaternary, and even ancillary services such as laboratory, diagnosis, imaging and rehabilitation.

With our scale and presence 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.

More information can be found at www.ihhhealthcare.com.

To speak to an IHH spokesperson, please contact:

Penelope Koh
Investor Relations, IHH Healthcare
t. +65 9820 8973
e. [email protected]

Ong Chor Hao
WATATAWA Consulting
t. +65 9627 2674
e. [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 Skoll, The Rise Funds invests in impact entrepreneurs and growth-stage, high-potential, mission-driven companies that are focused on achieving the Sustainable Development Goals of United Nations. 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 approximately $14 billion in assets across The Rise Funds, TPG Rise Climate and Evercare Health Fund, the TPG Rise platform is the world’s largest private markets impact investing platform committed to delivering results. positive and measurable social and environmental benefits, as well as competitive financial returns.

For more information, visit therisefund.com or @therisefund on Instagram.

To speak to a TPG spokesperson, please contact:

Jin Zhang
t. +86 131 4627 7095
[email protected]


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