KUALA LUMPUR (Jan 23): Singapore-based private equity firm Quadria Capital Investment Management Pte Ltd is investing RM119.92 million to take up a 49% stake in KPJ Healthcare Bhd's diagnostics unit, Lablink (M) Sdn Bhd.
The investment is undertaken via KL Kappa Sdn Bhd, which inked a subscription and share purchase agreement (SSPA) with Lablink and Kumpulan Perubatan (Johor) Sdn Bhd (KPJSB). KPJ owns Lablink via KPJSB.
"The proposed SSPA marks the beginning of the partnership between KPJ and Quadria Capital to grow Lablink's pathology and diagnostics businesses in Malaysia and explore new growth markets in Southeast Asia to become the region's leader in pathology and diagnostics services," KPJ said in a Bursa Malaysia filing today.
Quadria Capital, regulated by the Monetory Authority of Singapore, manages Quadria Capital Fund LP and other funds with assets under management exceeding US$1.5 billion and investments in 18 companies across the Asia-Pacific region.
Lablink offers pathology and diagnostic services to the KPJ Group of hospitals and other healthcare providers in Malaysia.
KPJ said the proposed tie-up is in line with its plan to expand the pathology and diagnostics businesses of Lablink to locations where private healthcare is in demand.
It would also drive Lablink's mission to be the leading pathology group in the region, and enhance shareholders' value, it added.
KPJ shares dipped half sen or 0.51% to settle at 98 sen today, for a market capitalisation of RM4.17 billion.