Kirkland & Ellis has represented asset manager Bain Capital in a $150 million deal to secure the controlling stake in Asia Pacific Medical Group (APMG), which turned to DLA Piper for legal advice.
Haiwen & Partners was also involved in the aquisiition, advising Bain Capital on the PRC aspects of the buyout.
This is the first transaction under the private equity firm’s new Asia fund, which raised $3 billion last December, according to The Wall Street Journal. Bain Capital, which is headquartered in Boston, manages $75 billion across a range of assets classes.
Founded in 1992 by a group of U.S.-trained doctors, APMG operates five hospitals and several clinics in China and Southeast Asia, providing a variety of primary care and specialty services, particularly in oncology and neurology and oncology.
The Kirkland team was led by Hong Kong corporate partners Nicholas Norris and Frank Sun while partner Dai Wenzhen handled the deal for Haiwen. Hong Kong based-partner Gloria Liu oversaw the transaction for DLA Piper.
Investors are piling into China’s medical sector as the need for medical services is expected to expand rapidly in the country, where the number of people over the age of 60 is set to double in the next 30 years.
