Srilanka’s hospital network to focus on regional growth and enhanced customer offerings
TPG Growth, the middle market and growth-equity investment platform of global private investment firm TPG, announced the acquisition of a 28 per cent stake in Asiri Hospital Holdings (Asiri) from Actis, an emerging markets private equity investor. Asiri is reportedly the largest multi-speciality private healthcare business in Sri Lanka, which is controlled by the dynamic Softlogic group led by Ashok Pathirage.
“TPG is one of the leading investors in healthcare globally, with an accomplished team of investment professionals, operators and technical experts who identify and execute on great opportunities in the sector. This network of experts, combined with the deep local relationships and experience of TPG Growth’s regional team, allows us to approach companies and challenges in a truly unique way and unlock unprecedented opportunities for growth,” said Bill McGlashan, Managing Partner of TPG Growth.
“We’ve seen significant growth opportunities in healthcare across the globe, and particularly in Asia, as individuals increasingly choose private medical treatment for the quality of care offered by these institutions,” said Vishal Bali, Senior Healthcare Advisor for TPG Growth in Asia, who will be joining the board of Asiri.
“Actis has been an excellent partner for us over the last few years and we now look forward to partnering with TPG Growth as we look to further our market-leading position as a world class healthcare provider in Sri Lanka. This partnership will provide new and diverse experience to the Board as well as access to TPG’s global network and experience making significant investments in healthcare. This partnership will help us continue to build our business as well as expand and upgrade operations in Sri Lanka and, perhaps, in other regions in Asia,” said Ashok Pathirage, Chairman & MD, Softlogic/Asiri.