By Ying Xian Wong

KUALA LUMPUR, Malaysia--A consortium led by Asian private-equity firm Quadria Capital has taken a major Malaysian pharmaceutical company private in the latest sign of deal momentum in the region.

Quadria, which manages $4.2 billion in assets, said it completed the take-private acquisition of Apex Healthcare on Tuesday.

The deal values Apex, which makes pharmaceuticals, consumer healthcare products and medical devices, at about $470 million.

Quadria said the transaction is the largest of its kind in the Southeast Asia healthcare space in the past five years and biggest ever in Malaysia.

Investor caution amid uncertainty over global trade policy has weighed on private-equity investments over the past year, but Asia-Pacific is still viewed as a region of long-term opportunity thanks to a diverse mix of mature markets and fast-growing emerging economies, said Andrew Thompson at KPMG.

While overall deal values remain subdued, there are signs that volumes are stabilizing and valuations resetting to more sustainable levels, helping to revive activity, he said in a report.

After delisting, Apex will be fully owned by Quadria and a group of investors including 65 Equity Partners, Malaysia's Employees Provident Fund and Silk Road Fund.

Founded in 1962, Apex operates across pharmaceutical manufacturing, distribution and consumer healthcare.

The transaction is Quadria's first take-private deal, and the fifth investment under the firm's Capital Fund III.

Data from EY show that Quadria Capital Fund III was the second-largest PE fund close in Southeast Asia in 2025, at $1.07 billion.

Southeast Asia recorded ten PE fund closes last year, raising a cumulative $4.6 billion, up 97% and accounting for 14% of total Asia-Pacific fundraising.

The region's market is "transitioning to value creation-led PE, with sponsors prioritizing more control, operational improvement and exit readiness," EY's Luke Pais said.

Write to Ying Xian Wong at yingxian.wong@wsj.com

(END) Dow Jones Newswires

February 24, 2026 04:55 ET (09:55 GMT)

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