SINGAPORE (Dec 12): US-based private investment firm Bain Capital has invested US$157 million (RM695.87 million) in Indonesian private healthcare company Mayapada Healthcare Group, or Sejahteraraya Anugrahjaya Tbk, according to a joint statement on Thursday.

The companies said the investment, made via Bain Capital’s special situations strategy, will be used to further expand Mayapada’s hospital operations via organic and strategic growth initiatives.

Bain Capital’s special situations team uses a combination of credit and equity strategy and has more than US$20 billion in assets under management.

The investment marks Bain Capital’s first in Indonesia, Southeast Asia’s biggest economy.

Southeast Asian healthcare assets are gaining favour as global investors bet on the region’s growing affluence and ageing population, and the sector’s ability to weather the current challenging economic environment.

“Indonesia faces a growing gap between healthcare supply and demand due to demographic shifts like an ageing population and rising affluence,” said Jonathan Tahir, Mayapada’s chairman and group chief executive officer (CEO), in the statement.

Bain Capital’s partner and special situations head of Asia, Sarit Chopra, said the firm had “deep conviction” about Mayapada’s continued growth, as the private healthcare market in Indonesia is just beginning to develop.

Founded in 2008, Mayapada operates seven private hospitals across Indonesia, including a flagship hospital in south Jakarta, with more than 1,000 beds, according to the statement.

It has several projects in the pipeline, and plans to operate more than 2,000 beds by 2027, the statement showed.

Shares of the company have surged 747% year-to-date, according to LSEG data.

The transaction is targeted to close in early 2025, subject to regulatory and public shareholders approval, the statement said.

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