Olympus Capital Invests $40M In China’s Tendcare Medical

Asia-focused Olympus Capital Asia has invested US$40 million in Tendcare Medical Group to help the private Chinese hospital operator expand in the country.

Founded in 2009, Tendcare currently operates five hospitals with over 2,400 beds, four pharmacies, two medical equipment companies and 17 clinics across five cities in China.

The company is in the process of completing acquisition of several additional hospitals, according to media reports.

Representatives at Olympus Capital Asia did not immediately respond to an inquiry to confirm the news.

In September 2014, TPG, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. and the CEO of Cindex completed a take-private transaction of the operator of United Family hospitals, the most well-known high-end private hospital in China.

Around the same time, Warburg Pincus led a US$100 million investment in Beijing-based Amcare Women’s & Children’s Hospital.

In October 2014, Beijing-based Chinese private equity firm Hony Capital invested an undisclosed amount in Shanghai Yangsi Hospital.

In January, Morgan Stanley Private Equity Asia (MSPEA) agreed to partner with Hong Kong-listed Sihuan Pharmaceutical Holdings Group Ltd and Sihuan’s chairman to acquire a 69.21% stake in Nanjing Jiangbei People’s Hospital for RMB409.3 million (US$66 million).

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