Quadria Capital backs Malaysian medical diagnostics provider

Quadria invested via its third vehicle, which closed at $304 million in 2015. It is the fund's eighth investment across South and Southeast Asia to date.

"We believe that the region's diagnostics industry is ripe for consolidation and Lablink is well positioned to become a leading pan-Southeast Asian diagnostics provider," Abrar Mir, co-founder of Quadria, said in a statement. "Its ambition dovetails with Quadria Capital's investment philosophy of supporting healthcare businesses that are focused on delivering quality care across the region."

Lablink was established as a subsidiary of Malaysian private healthcare provider KPJ Healthcare in 1989 and was acquired by KPJ Group in 1991 to manage the parent company's portfolio of hospital laboratories. Services include diagnostics work across a number disease, biosafety and microbiology categories as well as health screening packages.

Demand for diagnostics is said to be rising rapidly across the region with growing healthcare awareness and increasing levels of disposable income. South and Southeast Asia account for 40% of the global disease burden but only 5% of global healthcare spending.

Singapore and India-based Quadria claims about $1.5 billion in assets under management. Recent activity includes investments in Singapore medical center operator MWH Holdings and Vietnam's FV Hospital.

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• Topics
• Southeast Asia
• Healthcare
• Expansion
• Malaysia
• Quadria Capital
• Growth capital