[2 October 2024, Hong Kong] Templewater, a leading private equity firm specializing in mid-market control buyout opportunities in the Asia Pacific, is pleased to announce that its portfolio company, TW Pengu Holdings Limited (“TWPHL”), has acquired Icon Group’s Hong Kong assets. This acquisition aligns with TWPHL’s core objective, a comprehensive initiative designed to consolidate and enhance oncology services across Asia.
Following the recent successful acquisitions in Singapore, the Philippines, and Malaysia, TWPHL continues its expansion strategy with this pending integration of Icon Group’s well-established oncology services in Hong Kong. This acquisition expands Templewater’s healthcare portfolio, reinforcing its commitment to providing premier medical services regionally.
Mr. Cliff Zhang, Chairman and CEO at Templewater, commented about the acquisition: "Integrating Icon Group’s Hong Kong operations into our portfolio not only strengthens our service offerings but also expands our regional footprint in Hong Kong, which is a significant and strategic market. We are impressed with the level of care and expertise of the oncologists and surgeons in Hong Kong and are excited about the potential synergies this acquisition brings to the TW Pengu Holdings platform."
Mr. Simon Chuk, Partner at Templewater, added “Building on the solid foundation laid by the doctor specialists in Hong Kong, we aim to leverage the overall TWPHL platform to expand the oncology services in Hong Kong and across Asia. Our goal is to increase accessibility and further strengthen patient care through thoughtful enhancement and collaborations, thereby reaching more patients and driving positive healthcare outcomes.”
Dr. Peter Teo, Clinical Oncologist at Icon Hong Kong, "We are excited about partnering with Templewater to expand oncology care. Their commitment to healthcare excellence ensures we can continue providing top-tier treatment and innovations to our patients. This collaboration represents an important step in further broadening our service offerings."
With this strategic acquisition now complete, Templewater will begin the process of integrating Icon Group’s Hong Kong operations into our broader healthcare portfolio. Templewater is committed to a seamless transition that respects and builds upon the legacy of care established by Icon Group.
About Icon Group
Icon Group is Australia's largest integrated provider of cancer care with a growing reach in New Zealand, Asia and the United Kingdom.
Icon is built on a strong but simple mission - to deliver the best care possible to as many people as possible, as close to home as possible. The group brings together all aspects of quality cancer care including medical oncology, haematology, radiation oncology, research, pharmacy and compounding to deliver a truly integrated, end-to-end seamless service for cancer patients. With a network of more than 300 doctors, over 50 cancer centres, six compounding facilities and the management of 70 plus pharmacies, Icon is delivering world-leading care and helping address the global cancer burden.
For more information, please visit www.icongroup.global and follow Icon Group on LinkedIn at www.linkedin.com/company/icon-group.
About Templewater
Founded in 2018, Templewater is an alternative asset management firm headquartered in Hong Kong. Templewater provides investment solutions to institutions, entrepreneurs, and family offices across various asset classes including private equity, impact investing, and real estate.
Templewater’s private equity strategy focuses on mid-market control buyout opportunities in the Asia Pacific region, empowering companies and driving innovation across various sectors, with healthcare as one of its primary investment verticals. With a commitment to excellence and sustainable growth, Templewater continues to support its portfolio companies in achieving their vision and expanding their impact.
To learn more about Templewater, please visit www.templewater.com and follow Templewater on LinkedIn at www.linkedin.com/company/templewater.
FOR FURTHER INFORMATION, PLEASE CONTACT:
Templewater
Jason Li
Investor Relations
+852 31875000
