Malaysia's Lablink investor company announces 2nd fund of US$595mil

KUALA LUMPUR: Lablink (M) Sdn Bhd's investor company Quadria Capital has announced the close of its second fund, Quadria Capital Fund II, at its hard cap of US$595 million.

This far exceeded its US$400 million target, said Quadria, which claimed to be a leading independent healthcare-focused private equity firm in Asia.

“Participants in the round include many of the world’s leading global asset managers, pension funds, sovereign wealth funds, insurance, healthcare corporates and development finance institutions across the US, Europe and Asia.

“The firm is on a mission to scale future industry leaders in Asia’s healthcare ecosystem who can deliver sustainable impact, while generating compelling financial returns for like-minded investors,” it said in a statemet today.

Lablink is a subsidiary of Malaysia’s leading private healthcare provider KPJ Healthcare Bhd.

The company was initially established in 1989 and subsequently acquired by the KPJ group in 1991 to manage all the hospital laboratories within the KPJ Group.

Headquartered in Kuala Lumpur, Lablink is currently at the forefront of the Covid-19 battle, offering large scale testing for the virus across South and Southeast Asia.

“Asia is today at the centre of growth for global healthcare. Over the next five years, growth in the region is expected to reach US$4.2 trillion and is already outstripping growth in the US and Europe combined,” Quadria said.

“Yet, despite its potential, many parts in Asia, especially Southeast and South Asia, remain severely underfunded in healthcare expenditure.”

This was hampering growth in a region that was coming to grips with significant demographic changes presented by ageing populations, chronic diseases and increased exposure to infectious diseases including the ongoing Covid-19 situation, the firm added.

Quadria currently manages a total active capital of over US$1 billion.

The firm has made over 25 investments in leading healthcare businesses across Asia which have cumulatively treated over 17.5 million patients, managed 2,500 hospital beds, funded 2,600 doctors and clinical staff and created over 11,000 jobs.

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