TE Asia Healthcare, backed by TPG Capital, buys significant stake in Beacon Hospital
TE Asia Healthcare Partners, backed by US based TPG Capital, bought a significant stake in Beacon Hospital Malaysia in December 2020. Typical of the big funds, no details of how much they paid and what percentage they invested in Beacon Hospital were revealed.
TPG Capital is a global investment firm headquartered in San Francisco, California and Fort Worth Texas, USA. It manages US$96 billion in assets around the world.
Beacon Hospital is a medium-sized cancer specialist hospital located in Petaling Jaya, Selangor. It has 100 beds and more than 80 medical specialists. It recently received re-accreditation as an European Society for Medical Oncology (ESMO) Designated Centre of Integrated Oncology and Palliative Care and is the first hospital in Malaysia to receive an ESMO re-accreditation.
Mary Chen, Founder and Executive Director of Beacon Hospital, said that the tie up with TE Asia Healthcare will enhance operational management and expertise besides access to more capital for growth.
She credited Datuk Seri Tiong King Sing for the initial investment in Beacon Hospital in 2010 to bring in Hi-tech equipment into Malaysia to treat cancer.
TE Asia Healthcare said that “The healthcare landscape is changing in Asia and patients are becoming more sophisticated. Healthcare needs to cater to more specialised demands. Its investment strategy is to focus on specialty hospitals across Asia.”
Beacon Hospital has even got its own chicken farm to cater to cancer patients’ needs for special nutrition. Mary Chen started the farm because many patients complained about eating chicken injected with hormones, antibiotics and other added chemical substances. The Beacon chicken can be purchased at its many outlets and also via online.
We are researching on Private healthcare in Malaysia for a future publication. This article is part of our ongoing research.
- Beacon Hospital. https://www.beaconhospital.com.my/built-a-cancer-hospital-to-give-poor-patients-same-chance-at-treatment/
- The Edge. Options. 10 August 2019. Tan Gim Ean. https://www.optionstheedge.com/topic/people/mary-chen-built-cancer-hospital-give-poor-patients-same-chance-treatment
- The Sun Daily. 15 February 2017. A Beacon of Hope. https://www.thesundaily.my/archive/2162606-KTARCH427786
- Beacon Mart Outlets. https://www.beaconchicken.com/pages/locate-us
- TE Asia Healthcare Partners. About Us. https://www.tehealthcare.com/about-us/
- The Vibes.com. 10 December 2020. TE Asia to invest in Beacon Hospital. https://www.thevibes.com/articles/lifestyles/9289/te-asia-to-invest-in-beacon-hospital
- The Sun Daily. 18 January 2021. Ee Ann Nee. TE Asia aims to expand chain of specialty hospitals. https://www.thesundaily.my/business/te-asia-aims-to-expand-chain-of-specialty-hospitals-HB6164018
- Taiwan News. 1 December 2020. TE Healthcare Asia Partners. Media Outreach. https://www.taiwannews.com.tw/en/news/4066779