Singapore's HMI Group to buy majority stake in heart and vascular company
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Ms Chin Wei Jia, the executive director and group chief executive officer of HMI Group.
PHOTO: BT FILE
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SINGAPORE – Healthcare provider Health Management International (HMI) said on Wednesday it is purchasing a majority stake in Harley Street Heart and Vascular Centre, a move that will broaden the specialist services it offers in South-east Asia.
Financial details of the transaction were not disclosed.
Founded in 2012, Harley Street operates four centres in Singapore and one in Cambodia, HMI said in a statement, adding that Harley Street’s specialists will work closely with its primary care network to address the growing need for cardiovascular care.
HMI, which also operates in Malaysia and Indonesia, was taken private and delisted from the Singapore stock exchange by Swedish private equity firm EQT in 2019 for $611 million.
In June, United States based alternative asset manager Apollo Global Management announced an investment into the holding company of HMI via its hybrid value business.
The value of the investment was not disclosed.
Cardiovascular disease accounts for nearly-one third of all deaths in South-east Asia, killing four million people every year, according to the World Heart Federation.
HMI said in a separate statement that it is investing RM$250 million (S$71.15 million) in its Malaysia’s Mahkota Medical Centre. REUTERS
