SINGAPORE (BLOOMBERG) - Temasek Holdings is investing US$250 million (S$346.6 million) in the China operations of Columbia Pacific Management, as Singapore's state-owned investment firm expands its healthcare holdings.
Temasek and Columbia will form a 50-50 joint venture aimed at providing China's growing middle-class population with affordable healthcare services, Seattle-based Columbia said in a statement. The partnership will enable Columbia China to further expand in China through acquisitions and new projects, according to the statement.
During its latest financial year ended March 31, Temasek loaded up on stakes in US pharmaceutical and healthcare firms including Alexion Pharmaceuticals Inc and Regeneron Pharmaceuticals Inc, which develop treatments for serious medical conditions.
The share of life sciences and agriculture-related assets in Temasek's portfolio has doubled to 4 per cent in the two years ending March 31, according to its website.