Swedish private equity firm EQT Corp is exploring the sale of its stake in Singapore-based healthcare provider HMI Healthcare, with the deal valued at around $600 million.

The process to sell HMI Healthcare is in its preliminary stages, and there is a possibility the transaction may not be completed.

According to informed sources, EQT Corp is planning to divest its entire holding in the Singaporean medical services group, aiming to capitalize on the current surge in mergers and acquisitions within the Asian healthcare sector, which is being driven by rising demand for medical services.

Representatives for EQT Corp declined to comment on the matter.

Mergers and acquisitions in Asia's healthcare industry remain highly active, fueled by increasing patient visits, growing healthcare expenditure, and rising demand for hospitals, specialist clinics, and diagnostic services. The expansion of the middle class and ongoing urbanization are creating numerous high-quality growth opportunities, attracting capital to invest in promising regional assets such as general hospitals and specialized medical facilities.

Recent transactions highlight this investment trend. The Ontario Teachers' Pension Plan sold Indian hospital operator Sahyadri Hospitals last year for approximately $700 million, and in 2024, IHH Healthcare acquired Malaysia's Prince Court Medical Centre for $900 million.

Founded in 1998, HMI Healthcare operates in Singapore, Malaysia, and Indonesia. Its portfolio includes general hospitals, specialist centers, primary care clinics, day surgery centers, and medical education services, serving millions of patients annually.

In 2019, EQT Corp led a consortium to acquire HMI Healthcare, taking it private and delisting it from the Singapore Exchange. The company remains a leading private healthcare provider in Southeast Asia.

As of the end of March, EQT Corp managed total assets of approximately $310 billion across its business segments, which include private capital, infrastructure, real estate, and private wealth management. The firm invests in sectors such as healthcare, technology, industrials, and services, targeting opportunities from early-stage ventures to large-scale buyouts of mature companies.

EQT Corp holds a portfolio of over 300 companies globally, operating through its investment platforms in Europe, Asia, and North America.