Ikhlas Capital Injects RM74 Million into PMG Healthcare, Bolstering Sarawak Enterprise

Deal News | Feb 26, 2025 | Ikhlas Capital

Ikhlas Capital Injects RM74 Million into PMG Healthcare, Bolstering Sarawak Enterprise

Ikhlas Capital, a private equity firm based in Singapore, is investing RM74 million for a significant minority stake in PMG Healthcare, a Sarawak-based healthcare provider. The deal was announced during a signing ceremony attended by notable figures including Sarawak's Deputy Premier. PMG Healthcare, founded in 2012, operates a substantial network of pharmacies and clinics across Malaysia, with its core operations centered in Sarawak and Sabah. This investment aligns with PMG's growth plans to expand its network nationwide by opening 30 to 50 new outlets annually. Ikhlas Capital's involvement is expected to provide strategic guidance and leverage its regional network to support PMG's expansion and operational enhancements. The investment underscores Ikhlas Capital's focus on scaling well-managed, high-growth companies in the ASEAN region. The partnership is also seen as a pillar in addressing healthcare access in Sarawak through robust public-private collaboration.

Sectors

  • Private Equity
  • Healthcare

Geography

  • Malaysia – PMG Healthcare is a Sarawak-based company with operations in Malaysia, and the deal involves stakeholders across the region.
  • Singapore – Ikhlas Capital, the investing firm, is headquartered in Singapore.
  • ASEAN Region – Both Ikhlas Capital and PMG Healthcare have focused their growth and operational strategies across the ASEAN region.

Industry

  • Private Equity – The article focuses on Ikhlas Capital, a private equity firm, and its investment in a healthcare-related venture.
  • Healthcare – PMG Healthcare is the main subject, providing primary healthcare services through pharmacies, medical clinics, and dental clinics.

Financials

  • RM74 million – Investment amount by Ikhlas Capital in PMG Healthcare for a significant minority stake.

Participants

NameRoleTypeDescription
Ikhlas Capital Singapore Pte LtdInvestorCompanyA private equity firm investing in high-growth companies within the ASEAN region.
PMG Healthcare Sdn BhdTarget CompanyCompanyA Sarawak-based healthcare provider operating a network of pharmacies, medical clinics, and dental clinics.
Tan Sri Nazir RazakChairman of Ikhlas CapitalPersonChairman of Ikhlas Capital and involved in overseeing the investment in PMG Healthcare.
Dr. Chieng King ChongFounder and Chairman of PMG HealthcarePersonFounder and Chairman of PMG Healthcare, leading the company’s expansion strategy.
Datuk Professor Dr Sim Kui HianDeputy Premier of Sarawak and Minister of Public Health, Housing and Local GovernmentGovernmentGovernment representative endorsing the partnership for sustainable healthcare development.