Abraaj bids for Indonesia hospital firm

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Dubai-based investment firm Abraaj Capital is bidding for a 20 per cent stake of private Indonesian healthcare operator Siloam for about $300 million, according to a Reuters report.

Abraaj Capital, which has declared Southeast Asia its priority expansion market and has $7.5 billion in its war chest, is entering the race together with Blackstone, Bain Capital and KKR, which also have been shortlisted by Siloam owner PT Lippo Karawaci.

By selling its minority stake in Malaysia’s IHH Healthcare during the firm’s IPO in July, Abbraj has raised $390 million.

Siloam, which represents around 30 per cent of Lippo Karawaci’s asset value, operates nine hospitals and is currently building four new ones.

The prospects for Indonesia’s healthcare sector are favourable. Though the country has one of the world’s lowest healthcare spending-to-GDP ratios, its rising middle class is expected to sharply increase its medical spending and drive growth in the sector over the coming years.

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Reading Time: 1 minute

Dubai-based investment firm Abraaj Capital is bidding for a 20 per cent stake of private Indonesian healthcare operator Siloam for about $300 million, according to a Reuters report.

Reading Time: 1 minute

Dubai-based investment firm Abraaj Capital is bidding for a 20 per cent stake of private Indonesian healthcare operator Siloam for about $300 million, according to a Reuters report.

Abraaj Capital, which has declared Southeast Asia its priority expansion market and has $7.5 billion in its war chest, is entering the race together with Blackstone, Bain Capital and KKR, which also have been shortlisted by Siloam owner PT Lippo Karawaci.

By selling its minority stake in Malaysia’s IHH Healthcare during the firm’s IPO in July, Abbraj has raised $390 million.

Siloam, which represents around 30 per cent of Lippo Karawaci’s asset value, operates nine hospitals and is currently building four new ones.

The prospects for Indonesia’s healthcare sector are favourable. Though the country has one of the world’s lowest healthcare spending-to-GDP ratios, its rising middle class is expected to sharply increase its medical spending and drive growth in the sector over the coming years.

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