Bain Capital invests $157 million in Indonesia’s Mayapada Healthcare Group

SINGAPORE (Reuters) – U.S.-based non-public funding agency Bain Capital has invested $157 million in Indonesian non-public healthcare firm Mayapada Healthcare Group, or Sejahteraraya Anugrahjaya Tbk PT, based on a joint assertion on Thursday.

The businesses stated the funding, made through Bain Capital’s particular conditions technique, shall be used to additional develop Mayapada’s hospital operations through natural and strategic development initiatives.

Bain Capital’s particular conditions group makes use of a mixture of credit score and fairness technique and has greater than $20 billion in property below administration.

The funding marks Bain Capital’s first in Indonesia, Southeast Asia’s greatest economic system.

Southeast Asian healthcare property are gaining favour as world buyers wager on the area’s rising affluence and growing older inhabitants and the sector’s potential to climate the present difficult financial setting.

“Indonesia faces a rising hole between healthcare provide and demand attributable to demographic shifts like an growing older inhabitants and rising affluence,” stated Jonathan Tahir, Mayapada’s chairman and Group CEO, within the assertion.

Bain Capital’s associate and particular conditions head of Asia, Sarit Chopra, stated the agency had “deep conviction” about Mayapada’s continued development because the non-public healthcare market in Indonesia is simply starting to develop.

Based in 2008, Mayapada operates seven non-public hospitals throughout Indonesia, together with a flagship hospital in south Jakarta, with greater than 1,000 beds, based on the assertion.

It has a number of tasks within the pipeline and plans to function greater than 2,000 beds by 2027, the assertion confirmed.

Shares of the corporate have surged 747% year-to-date, based on LSEG knowledge.

The transaction is focused to shut in early 2025, topic to regulatory and public shareholders approval, the assertion stated.

($1 = 4.4300 ringgit)