ICG has invested in Singapore-based day surgery operator Alfa Medicus, while Indonesian commercial EV firm VKTR has started construction at its $19-million commercial EV facility.
Global asset manager ICG backs day-surgery operator Alfa Medicus
UK-based alternative asset manager ICG, through its Asia-Pacific corporate team, has invested in Singapore-based day-surgery operator Alfa Medicus Pte. Ltd., per an announcement.
The investment was made alongside the company’s founder and a consortium of healthcare professionals, including doctor-shareholders and management.
Financial details of the transaction were not disclosed.
Alfa Medicus established the first day-surgery centre in Singapore in 2008 and has developed a synergistic platform of day-surgery centres, diagnostic imaging, and specialist clinics.
The investment follows ICG’s other healthcare deals in APAC such as Canopy Healthcare, PresMed Australia, and Cura Day Hospitals.
ICG provides flexible capital solutions across structured and private equity, private debt, real assets, and credit. The firm managed $86.3 billion of assets as of the end of last year.
In 2022, ICG closed its fourth Asia dedicated vehicle at $1.1 billion, exceeding its target and a 60% increase in size from its predecessor fund.
VKTR starts construction at EV manufacturing facility
Indonesian commercial electric vehicle PT VKTR Mobilitas Indonesia Tbk (VKTR), which is backed by conglomerate Bakrie Group, has commenced the construction of its manufacturing facility in Magelang, Central Java, with an investment of 300 billion rupiah ($19 million), according to a press release on Wednesday.
The commercial EV facility, which aims to produce completely knock-down (CKD) EVs in Indonesia, has been set up through a joint venture between VKTR and manufacturing firm Karoseri Tri Sakti, involving a total investment of 300 billion rupiah ($19 million). VKTR contributed 200 billion rupiah in cash, while Karoseri Tri Sakti invested land and buildings valued at 100 billion rupiah.
DealStreetAsia reported earlier that the facility was expected to become fully operational in 2024 and can have an annual capacity of 3,000 units of EV buses and trucks.
In August 2023, VKTR raised $16 million in financing from Indonesian lender PT Bank Central Asia Tbk to ramp up the facility in Magelang. Meanwhile in July, VKTR raised 875 billion rupiah ($58.8 million) after listing 875 billion new shares, or 20% of total shares, in an IPO.
The company plans to manufacture 200 electric buses this year and has deployed 70 electric buses so far. The company needs around 900 billion rupiah of working capital to support the manufacturing of electric buses.