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KKR, GIC complete investment in Metro Pacific's hospitals unit

Private equity firm KKR & Co. Inc. and an affiliate of Singaporean sovereign wealth fund GIC Pte. Ltd. completed their investment in Philippines-based Metro Pacific Hospital Holdings Inc., through a series of transactions in common shares and exchangeable bonds.

KKR invested through its KKR Asian Fund III.

The capital generated will go toward supporting Metro Pacific Hospital's potential investments in additional hospitals and new healthcare businesses, and to grow its existing subsidiaries, associates and joint ventures.

The Metro Pacific Investments Corp. unit has interests in 14 hospitals and approximately 3,200 beds across the Philippines.