The 600-bed hospital treats 400,000 patients annually and performs approximately 15,000 surgeries. Credit: Anna Jurkovska/Shutterstock.

Asian buyout fund Affinity Equity Partners has reportedly attracted acquisition interest from various hospital operators for its Malaysian healthcare business Island Hospital. 

The potential buyers include IHH Healthcare and Sunway Medical Centre, with the deal expected to reach $1bn, two sources familiar with the matter told Reuters. 

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The report said that non-binding bids from these hospital operators were submitted by the 11 June deadline.  

The acquisition process is expected to be concluded by the end of the year. 

The sale of Island Hospital, currently owned by Affinity, has also seen interest from private equity giants CVC Capital Partners and TPG Capital, with initial bids already placed.  

Affinity is set to shortlist candidates for the next round of bidding.  

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Details of the process remain confidential, as the involved parties have not publicly disclosed the ongoing discussions, the news agency added. 

Reuters said that IHH, a healthcare group listed on both the Malaysian and Singaporean stock exchanges, has maintained a policy of not commenting on market speculation.  

Any significant developments are expected to be communicated to the market in due course. Sunway Medical, CVC, and TPG have also chosen not to comment on the matter. 

Island Hospital, established in 1996 in Penang, Malaysia, has 600 beds and annually treats 400,000 patients and performs approximately 15,000 surgeries.  

It has more than 80 full-time specialists and is known for its nine Centres of Excellence.  

The hospital is currently expanding its services to become a Regional Quaternary Care hospital, which will enable it to provide advanced specialised treatments. 

Affinity Equity Partners, headquartered in Hong Kong, acquired Island Hospital in June 2015.