Singapore investor to buy healthcare assets for $1.4b

Singapore-based real estate company Rowsley has plans to expand into the healthcare sector with the signing of a non-binding term sheet to purchase healthcare assets from its controlling shareholder for approximately S$1.9 billion ($1.4 billion).

Rowsley signed a non-binding term sheet to buy 100 percent of Singapore hospital operator Thomson Medical Pte Ltd and a 70.36 percent stake in Malaysia’s TMC Life Sciences Berhad from Lim Eng Hock, who indirectly owns a 45.34 percent stake in Rowsley.
Rowsley is a multi-disciplinary real estate company with businesses in design and engineering, real estate development, and hospitality.