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)