Ekuinas exits Malaysia healthcare businesses

Ekuinas said it would generate an IRR of 39% from the divestment of a 60% stake in each company. The firm acquired both positions in late 2015 for MYR79.8 million ($19.5 million). It was Ekuinas’ first foray into the healthcare sector.

MediExpress and PMCare provide support services such as processing medical claims and payments to healthcare organizations. MediExpress focuses on insurance companies while PMCare serves larger corporate clients. Together, they cater to two million members across 3,000 medical providers in Malaysia.

Syed Yasir Arafat Syed Abd Kadir, CEO of Ekuinas, said his firm had successfully delivered on its value creation plans. “These efforts comprise of operational enhancements of processes and systems, strengthening management and operation teams as well as increasing their market share,” he said in a statement.

The transaction brings Ekuinas’ total realization proceeds to more than MYR2 billion since the firm was established in 2009. Earlier this year, Ekuinas set up its fourth fund with a corpus of MYR1.5 billion and an investment mandate including healthcare, energy, and various consumer segments. Last month, it invested MYR44 million in Exabytes Capital, a cloud technology player.

• Tweet  
• Facebook  
• LinkedIn  
• Google plus  
• Save this article  
• Send to  

• Topics
• Southeast Asia
• Healthcare
• Support services
• Exits
• Trade sale
• Malaysia
• Ekuinas
• Financial Services
• insurance