The United States-based investment firm KKR has agreed to buy a minority stake in Malaysia’s Avisena Healthcare, a private hospital operator.

In a statement on Thursday, KKR said said the investment would fund Avisena’s next phase of growth, including expanding multi-specialty services at its flagship hospitals in Shah Alam and building new hospitals in the Klang Valley. Avisena is planning an expansion of its Tower A site and a new hospital in Cyberjaya would add more than 300 beds, taking its total to nearly 600 by 2029.

The statement did not provide any financial details. It was reported in August that KKR could take about 20 to 25 percent, worth roughly MYR300-400 million, valuing Avisena at MYR1.5 billion ($368 million). The deal is subject to customary closing conditions.

Founded in 1996, Avisena operates in Shah Alam and the wider Klang Valley, with more than 250 licensed beds across two hospitals.

KKR said it had invested more than $20 billion across healthcare globally since 2004. Its Asia-Pacific healthcare portfolio includes Medical Saigon Group in Vietnam and Metro Pacific Hospital Holdings in the Philippines, with other investments in India, Japan, and China. In Malaysia, it has invested in OMS Group, Weststar Aviation, and Taylor’s Schools.

SJ Lim, a managing director at KKR, said the firm looked forward to helping build the business alongside Avisena’s team. Group Chief Executive Elina Nadia Omar said KKR’s regional healthcare experience would support Avisena’s plans to expand its clinical services.

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