TE Asia, Altrui invest $50 mln in Indonesian health projects

TE Asia Healthcare Partners, a healthcare firm with ties to TPG Capital a private equity firm based in the U.S., is partnering with Altrui Investment Management to make an investment of  US$50m in two of Indonesia’s most recent healthcare projects.

Indonesia is currently developing two facilities, a heartology cardiovascular center in Brawijaya Hospital Saharjo and a cardiac hospital. Both facilities are situated in Jakarta, the nation’s capital.

Altrui’s investment will see it controlling a 25% stake in the projects, while TE Asia and a group of doctors in the two facilities will assume control of 75%. TE Asia will be the majority stakeholder, the statement said.

“This comes at a time when public hospitals in Indonesia are struggling to cope with high patient load, especially amidst the continued expansion of universal health coverage and the ongoing pandemic,” TE Asia Group CEO Eng Aik Meng said.