SINGAPORE (Reuters) – U.S.-based private investment firm Bain Capital has invested $157 million in Indonesian private healthcare company Mayapada Healthcare Group, or Sejahteraraya Anugrahjaya Tbk PT, according to a joint statement on Thursday.
The companies said the investment, made through Bain Capital’s special situations strategy, will be used to further expand Mayapada’s hospital business through organic and strategic growth initiatives.
Bain Capital’s special situations team uses a combination of credit and equity strategies and has more than $20 billion in assets under management.
The investment is Bain Capital’s first in Indonesia, Southeast Asia’s largest economy.
Southeast Asia’s healthcare assets are gaining popularity as global investors rely on the region’s growing prosperity and aging population and the sector’s ability to weather the current challenging economic environment.
“Indonesia is facing a growing healthcare supply-demand gap due to demographic shifts such as an aging population and rising prosperity,” Jonathan Tahir, chairman and CEO of Mayapada, said in the statement.
Bain Capital’s partner and head of special situations for Asia, Sarit Chopra, said the firm had “deep conviction” about Mayapada’s continued growth as Indonesia’s private healthcare market is only just beginning to develop.
Founded in 2008, Mayapada operates seven private hospitals across Indonesia, including a flagship hospital in South Jakarta, with more than 1,000 beds, the statement said.
It has several projects in the pipeline and plans to operate more than 2,000 beds by 2027, the statement showed.
According to data from LSEG, the company’s shares are up 747% this year.
The transaction is expected to close in early 2025, subject to regulatory and public shareholder approvals, the statement said.
($1 = 4.4300 ringgit)
