Singapore-based private equity company Everstone Capital has hired BDA Partners to manage the sale of Everlife Holdings. The healthcare services company could be valued at around USD 1 billion. Offers for Everlife, which caters to clinical and scientific labs in South and Southeast Asia, are expected to be submitted by mid-November. The deal is anticipated to be finalised by the first half of 2024.
As per the LSEG data, the sale comes after merger and acquisition deals in Asia Pacific, including Japan, dropped 26 per cent to a 10-year low of USD 624.4 billion for the first nine months of current year, compared to the year-ago period.
Deal activity in the healthcare sector in the region fell 6.6 per cent to almost USD 37.2 billion, according to the data.
Everlife incepted as a buy-and-build platform which aimed at providing complete solutions for the healthcare and research industries in Southeast Asia and India.
The company offers products from over 250 suppliers across seven countries, including India and Singapore. Everstone Capital is the private equity arm of Everstone Group, which manages over USD 7 billion in assets. The private equity firm focuses on the mid-market and invests in businesses in India and Southeast Asia. It has seven offices globally, including in Dubai and New York.
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