TPG has appointed Malayan Banking and UBS to evaluate strategic options for Asia OneHealthcare, including a potential sale or IPO that could value the business at up to $7.5bn, according to Bloomberg sources.

The private equity firm is assessing exit routes for the Kuala Lumpur-based healthcare platform, with additional advisers expected to join if a public listing is pursued. However, deliberations remain at an early stage and TPG could still opt to retain the asset.

TPG originally acquired the business in 2019, when it purchased Columbia Asia Healthcare alongside Hong Leong Group for approximately $1.2bn. 

The platform has since undergone expansion and consolidation, culminating in its rebranding as Asia OneHealthcare in 2024.

The company has also strengthened its position through acquisitions, including a joint venture between Sime Darby and Ramsay Health Care, broadening its footprint across the region.

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