Li & Fung considers options for $500 mln Asia healthcare arm,…

By Kane Wu and Yantoultra Ngui

HONG KONG/SINGAPORE, Jan 16 (Reuters) – Hong Kong-based multinational Li & Fung Ltd is considering options for its Asian healthcare arm, including a sale, canlı slot siteleri that could value the business at up to $500 million, two people with direct knowledge of the matter told Reuters.

The sources said Li & Fung has asked banks to pitch for options for IDS Medical Systems Group (idsMED), which provides integrated solutions of medical equipment, supplies and services.The people said discussions are at an early stage and canlı slot siteleri a decision is yet to be made.

The options could also include an initial public offering, said one of the sources, both of whom declined to be identified as the discussions were confidential.

The Li & Fung arm, which operates in Singapore, Malaysia, Indonesia, Hong Kong, Philippines, Thailand, China, Taiwan and Vietnam, could be valued at $400 million to $500 million in a deal, they said.

Li & Fung and idsMED did not respond to emailed requests for canlı slot siteleri comment on Monday.

The potential sale comes at a time where medical services companies are gaining favour as investors bet on the healthcare sector’s ability to weather the current challenging economic environment.

In December, India’s Suven Pharmaceuticals announced that U.S.private equity firm Advent International will buy a 50.1% stake from its promoter Jasti family and consider merging it with a peer.

A week earlier, private equity giant KKR & Co announced that it will acquire Japanese drug developer Bushu Pharmaceuticals from Hong Kong’s BPEA EQT.

Founded in 2011 partly by a Li & Fung group executive, idsMED started doing business in Southeast Asia.Since then it has brought in Singapore-based venture capital firm EDBI, the World Bank’s International Finance Corporation and Japanese trading house Mitsubishi Corp as strategic investors and expanded into Greater China, according to its website.

It counts over 10,000 healthcare facilities, as clients and canlı slot siteleri employs 1,800 people, the website shows.(Reporting by Kane Wu in Hong Kong and Yantoultra Ngui in Singapore; Editing by Kenneth Maxwell)