By P.R. Venkat
Swedish private-equity firm EQT is planning to sell its minority stake in a Singapore-based healthcare provider for about $600 million, according to people familiar with the situation, aiming to capitalize on a flurry of deals being driven by rising demand for medical services across Asia.
The process to sell HMI Medical is still in its early stages, and a deal may not materialize, people familiar with the matter said.
EQT declined to comment.
Deal activity in Asia's medical-services sector remains strong, fueled by rising patient volumes and healthcare spending as more people turn to hospitals, clinics and diagnostic services. Expanding middle classes and urbanization are creating attractive growth opportunities, prompting investors to seek a share of the region's most promising hospital and specialty-care assets.
Recent transactions underscoring this momentum include last year's sale of India-based hospital operator Sahyadri Hospitals by Ontario Teachers' Pension Plan Board, a deal with an estimated value of around $700 million. In 2024, IHH Healthcare paid $900 million for Malaysia's Island Hospital.
Founded in 1998, HMI has healthcare operations across Singapore, Malaysia and Indonesia. The group runs hospitals, specialist centers, primary-care clinics, ambulatory-care facilities and healthcare-education businesses, serving millions of patients annually.
HMI was taken private and delisted from the Singapore Exchange in 2019 following an acquisition led by EQT, and it continues to operate as a private healthcare provider across Southeast Asia.
EQT, which had approximately $310 billion in total assets under management as of the end of March, operates across private capital, infrastructure, real estate and private wealth strategies. The firm invests in sectors including healthcare, technology, industrials and services, covering early-stage ventures to large-cap buyouts.
EQT manages a portfolio of more than 300 companies worldwide and operates through investment platforms in Europe, Asia and North America.
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
June 12, 2026 11:11 ET (15:11 GMT)
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