- ICG enters into strategic partnership to support Alfa Medicus’ plans for a synergistic healthcare platform, focused on patient care and operational excellence.
- ICG is investing alongside the company’s founder, Dr Lim Beng Hai, and a consortium of healthcare professionals.
ICG, the global alternative asset manager, today announced that its Asia Pacific Corporate team (“ICG APAC Corporate”) has closed its investment in day surgery operator, Alfa Medicus Pte. Ltd. (“Alfa Medicus” or the “Company”), alongside the Company’s founder, Dr Lim Beng Hai, and a consortium of healthcare professionals, including doctor-shareholders and management. Financial details of the transaction have not been disclosed.
Alfa Medicus established the first day surgery centre in Singapore in 2008, following growing demand among patients for quality day surgery facilities able to deliver best-in-class yet cost-effective outcomes. Alfa Medicus has grown to become a leading private day surgery operator in Singapore, complete with a synergistic platform of day surgery centres, diagnostic imaging and specialist clinics.
The investment reaffirms ICG’s significant global healthcare expertise, following successful investments in Canopy Healthcare, PresMed Australia, and Cura Day Hospitals by APAC Corporate. ICG’s Life Sciences team also specialise in healthcare, with portfolio companies including Amolyt Pharma, Wugen Inc. and CuraSen Therapeutics.
Escamillo Lin, Managing Director and Head of Southeast Asia at ICG, commented:
Alfa Medicus is a market-leading private day hospital platform, benefitting from an A-team management strong on execution and an organisational culture prioritising surgeon satisfaction and patient care. We are delighted to partner with Dr Lim as the business continues to expand into strategic adjacencies.
Wooseok Jun, Head of ICG Asia Pacific Corporate, said:
This partnership builds on ICG’s extensive track record within the Asia-Pacific healthcare sector, and underpins our approach to supporting high-quality businesses committed to delivering meaningful contributions to the markets within which we operate.
Dr. Lim Beng Hai, Senior Consultant Hand Surgeon, Founder of Alfa Medicus, added:
It is with great excitement that Alfa Medicus joins hands with ICG. Together, we are embarking on a shared journey to advance day surgery practices and advanced imaging technologies, particularly in the realm of MRIs, all while placing patient welfare and surgical excellence at the forefront. This collaboration presents an incredible opportunity to enhance accessibility and convenience for patients, marking a significant step forward in our mission to provide exceptional patient care.
Ashurst ADTLaw served as legal counsel to ICG. Tardis Capital acted as advisor to the Company.
– Ends –
For further information please contact:
Catherine Armstrong
Interim Head of Corporate Communications
Email: [email protected]
About ICG
ICG provides flexible capital solutions to help companies develop and grow. We are a leading global alternative asset manager with over 30 years’ history, managing $86.3bn of assets* and investing across the capital structure. We operate across four asset classes: Structured and Private Equity, Private Debt, Real Assets, and Credit.
We develop long-term relationships with our business partners to deliver value for shareholders, clients and employees, and use our position of influence to benefit the environment and society. We are committed to being a net zero asset manager across our operations and relevant investments by 2040.
ICG is a member of the FTSE 100 and listed on the London Stock Exchange (ticker symbol: ICP). Further details are available at www.icgam.com. You can follow ICG on LinkedIn, X (Twitter) and Instagram.
*as at 31 December 2023
Subscribe to our newsletters
Sign up for Regulatory News updates: click here
