Health Management Int'l rallies 91% and now Temasek is knocking

SINGAPORE (Nov 29): After a 91% surge in its share price since 2016, Health Management International has gained an important new supporter -- a unit of Singapore’s state investment firm.

Heliconia Capital Management will consider investing with the operator of Malaysian hospitals as it seeks to expand through acquisitions, according to Derek Lau, chief executive officer at the unit of Temasek Holdings. On Nov. 13, the investment firm announced that it acquired a 2% stake in Singapore-headquartered Health Management International for US$11 million ($14.8 million).

"From our perspective we hope to co-invest with them, alongside them, if there’s an acquisition target,” Lau said in an interview in Singapore. Heliconia’s International Partnership Fund was “precisely” launched to help Singapore companies looking to “scale up, internationalise” their businesses, he said, referring to the $600 million fund announced in February.

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