Bain Capital Invests in Mayapada Healthcare

SINGAPORE (Reuters) – U.S.-based private investment firm Bain Capital has invested $157 million in Indonesian private healthcare company Mayapada Healthcare Group (Sejahteraraya Anugrahjaya Tbk PT), according to a joint statement on Thursday.

The companies stated that the investment will be utilized to expand Mayapada's hospital operations through organic growth and strategic initiatives, made via Bain Capital's special situations strategy. This team combines credit and equity strategies and manages over $20 billion in assets.

This marks Bain Capital's first investment in Indonesia, the largest economy in Southeast Asia. Increased investor interest in Southeast Asian healthcare assets is attributed to the region's growing affluence, aging population, and the sector's resilience amid current economic challenges.

Jonathan Tahir, Mayapada's chairman and Group CEO, noted that Indonesia is experiencing a growing gap between healthcare supply and demand due to demographic shifts such as an aging population and rising affluence.

Sarit Chopra, Bain Capital's partner and head of special situations in Asia, expressed confidence in Mayapada's growth, highlighting that Indonesia's private healthcare market is still in its nascent stages of development.

Founded in 2008, Mayapada operates seven private hospitals across Indonesia, including a flagship facility in south Jakarta with over 1,000 beds. The company has plans to operate more than 2,000 beds by 2027. According to LSEG data, the company’s shares have surged 747% year-to-date.

The transaction is expected to close in early 2025, pending regulatory and public shareholder approval.

($1 = 4.4300 ringgit)