Kendall Court investing $55 mln in Indonesian company's hospital expansion
SINGAPORE, Oct 19 (Reuters) - Singapore-based private equity
firm Kendall Court announced a $55 million investment in an
Indonesian company, which is expanding and building a 420-bed
hospital in Jakarta to tap into the country's fast-growing
healthcare services sector.
Kendall Court will own a majority stake in Indonesia's
Mandaya Medical International Pte Ltd (MMI) through the
investment in the firm's preference shares, the companies said
in a joint statement on Friday.
MMI is part of the Selaras Group conglomerate which is
focused on hospitality, healthcare and property.
"Mandaya Medical International will serve the rising demands
of the local middle-class community for quality healthcare by
building a network of hospitals focused on cardio-vascular,
neuroscience and cancer specialties," MMI Director Benedictus
Widaja said in the statement.
MMI's 70,000-square metre general hospital will start
operations at the end of 2019.
(Reporting by Anshuman Daga; Editing by Sunil Nair)
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