Milbank LLP advised the controlling shareholders in the sale of the Southeast Asia operations of Columbia Asia Hospitals, consisting of 17 hospitals located in Malaysia, Indonesia and Vietnam. Morgan Stanley Asia (Singapore) Pte. acted as exclusive financial advisor to Columbia Pacific Management on the transaction.
Malaysia based conglomerate Hong Leong Group acquired Columbia Asia Hospitals in South East Asia. The transaction was announced on Semptember 12, 2019.
According to the agreements, Hong Leong and TPG acquired 17 Columbia Asia Hospitals and 1 clinic located in Malaysia (12 hospitals), Indonesia (3 hospitals) and Vietnam (2 hospitals and 1 clinic).
The 11 hospitals in India are not a part of the transaction and will continue to operate with no changes, under the existing ownership of International Columbia US, LLC, which is managed by Seattle-based Columbia Pacific Management.
Columbia Asia Hospitals focuses on serving Asia’s rapidly growing middle-income population with a unique business model delivering accessible, affordable and quality healthcare.
The Millbank team was led by partners David Zemans (Picture) and Naomi Ishikawa, special counsel James McFarlane and associates Martin Wong and Rosaline Yusman.
Law Firms: Milbank;
Clients: Mitsui & Co. Ltd;