A 91% Stock Rally, and Now a Unit of Temasek Is Knocking
- Heliconia bought 2 percent stake in Singapore company
- CEO open to co-investing with Health Management International
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After a 91 percent surge in its share price since 2016, Health Management International Ltd. has gained an important new supporter -- a unit of Singapore’s state investment firm.
Heliconia Capital Management Pte will consider investing with the operator of Malaysian hospitals as it seeks to expand through acquisitions, according to Derek Lau, chief executive officer at the unit of Temasek Holdings Pte. On Nov. 13, the investment firm announced that it acquired a 2 percent stake in Singapore-headquartered Health Management International for S$11 million ($8.2 million).