Asia OneHealthcare, backed by Malaysian billionaire Quek Leng Chan’s firm, eyes $1.7B IPO in 2027

Asia OneHealthcare, a healthcare provider backed by Malaysian billionaire Quek Leng Chan's firm, is set to launch its IPO documentation in November, with the anticipated offering in the first quarter of 2027, potentially valuing the firm at around RM30 billion, according to The Business Times. Bloomberg initially reported that the company had filed confidentially for an IPO in Kuala Lumpur, submitting a draft registration to the Securities Commission Malaysia late last month.

If market conditions remain favorable, this offering could position itself among Malaysia's largest healthcare IPOs, surpassing IHH Healthcare's RM6.3 billion IPO in 2012 and exceeding Sunway Healthcare's RM2.9 billion base offering earlier this year. Prior to its acquisition by Hong Leong Group and TPG in 2019, Asia OneHealthcare, previously known as Columbia Asia Healthcare, underwent a name change in 2024 following the consolidation of its assets and acquisition of Ramsay Sime Darby Health Care.

Currently, it stands as one of the region's largest private hospital platforms, managing 23 hospitals across Malaysia and Vietnam, and employing over 1,300 consultants, as per its official website. This IPO would expand Quek Leng Chan's business empire, whose estimated wealth of $7.5 billion places him as Malaysia's second-richest man, as ranked by Forbes.

Quek also holds interests in banking, property, and manufacturing, along with investments spread across Malaysia and the region. Notably, Quek is related to Singaporean billionaire Kwek Leng Beng, the executive chairman of Singapore-listed property developer City Developments Limited and the city-state's second-richest man.