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HMI Medical to buy majority stake in Singapore's largest private urology specialist group
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HMI Medical to buy majority stake in Singapore's largest private urology specialist group
Oct 10, 2024 9:30 PM

SINGAPORE, Oct 11 (Reuters) - Singapore-headquartered

private healthcare company Health Management International, or

HMI Medical, said on Friday it is acquiring a majority stake in

Advanced Urology Associates, the largest private urology

specialist group in the country.

HMI Medical did not provide financial details on the deal in

its statement.

With the backing of HMI Medical, Advanced Urology aims to

expand its footprint locally and regionally by scaling up its

community outreach, doctor recruitment efforts and setting up of

new clinics and health facilities, according to the statement.

HMI Medical, which also operates in Malaysia and Indonesia,

has been growing via mergers and acquisitions. In November last

year, it said it bought a majority stake in Harley Street Heart

& Vascular Centre, without disclosing financial details.

HMI Medical was taken private and delisted from the

Singapore stock exchange by Swedish private equity firm EQT

in 2019 for S$611 million ($468 million).

In June last year, U.S.-based alternative asset manager

Apollo Global Management Inc ( APO ) said it invested into the

holding company of HMI Medical via its hybrid value business.

The value of the investment was not disclosed.

($1 = 1.3052 Singapore dollars)

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