SINGAPORE, June 26 (Reuters) – Apollo Global Management
Inc has committed to invest in PanAsia Health Ltd, the
holding company of Singapore regional healthcare firm HMI Group,
through its hybrid value business, it said on Monday.

The U.S-based alternative asset manager did not disclose the
value of the investment.

“This is the fourth investment made by hybrid value in Asia
in the last 24 months, highlighting our continued focus on
expanding Apollo’s presence across Asian markets,” said Matt
Michelini, head of Asia Pacific and chairman of Apollo’s hybrid
value investment committee.

Apollo’s $13 billion hybrid value business operates via both
private equity and credit teams. Investments over the past 18
months include Energos and Hero FinCorp, it added.

Apollo said proceeds from the investment into PanAsia will
support HMI’s growth strategy as the company seeks to continue
expanding in Southeast Asia.

Founded in 1998, HMI owns 45 primary care and health
screening centres, 15 specialist centres, and an 11-storey
ambulatory care centre, in addition to a panel of some 1,500
primary and specialist clinics through its medical benefits
network in Singapore.

It also owns two tertiary hospitals in Malaysia, according
to the statement.

Maybank Securities was the financial advisor to Apollo while
King & Spalding was the legal counsel, according to the
statement. Credit Suisse was financial advisor to HMI with White
& Case as the legal counsel.
(Reporting by Yantoultra Ngui; Editing by Conor Humphries)