Bain Capital nabs stake in Chinese hospital group

The transaction was the last investment from Bain Asia Fund II and the first from Fund III.

Bain Capital Private Equity has taken a large majority stake in Chinese private hospital chain Asia Pacific Medical Group (APMG), Private Healthcare Investor reports.

Financial details of the deal were not disclosed, although a spokeswoman for Bain Capital said that the funding for APMG had been split between two funds, Bain Asia Fund II and Bain Asia Fund III.

The deal was the last investment in Fund II and the first in Fund III.

APMG provides primary and specialised care, and has a particular focus on oncology and neurology. It was the first group to introduce the gamma knife machine to China, which uses highly focused beams of radiation to treat conditions such as brain tumours.

The group has built a portfolio of hospitals and clinics across China and the South-East Asia region, and has partnered with other leading Chinese hospitals, providing medical, research and technology services.

APMG was formed in 1992 by Michael Choy and a group of US-based doctors. It aims to provide quick and easy access to quality healthcare through its own network, and through a chain of other hospitals and clinics in China, Malaysia, Singapore and Hong Kong. Bain will aim to use its healthcare network to help APMG grow new projects in China’s tier 1 cities.

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