Private equity giant TPG is actively exploring options for its stake in Asia OneHealthcare Sdn., potentially selling the Malaysian healthcare provider or taking it public, according to sources close to the matter. Deal discussions with advisers involved in Sunway Healthcare Holdings Bhd.'s planned IPO on March 18th are underway to evaluate possible paths forward. A sale could value the company at up to $7.6 billion, though considerations are preliminary and no final decision is imminent. TPG may also retain its stake, the sources indicated.

The move comes amidst significant private equity activity in Southeast Asia, including TPG's recent $1.3 billion sale of XCL Education and KKR's $5.2 billion acquisition of STT GDC data centers. Asia OneHealthcare, acquired by TPG and Hong Leong Group for $1.2 billion in 2019, has since expanded through acquisitions like Ramsay Health Care and Sime Darby, now holding a portfolio of hospitals across the region.