TPG-Backed Columbia Asia to Buy Ramsay Sime Darby Health Care for $1.2B

TPG-backed hospital operator Columbia Asia has agreed to buy Asia-focused private hospital group Ramsay Sime Darby Health Care for 5.7 billion ringgit ($1.2 billion).

TPG-managed funds will invest in this transaction with several co-investors, Sime Darby said in a late Friday filing. Apart from TPG, Employees Provident Fund of Malaysia and a wholly owned subsidiary of the Abu Dhabi Investment Authority will be the two largest providers of new capital, which will be used to fund the transaction, it added.