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By Kane Wu and Yantoultra Ngui
HONG KONG/SINGAPORE, Oct 30 (Reuters) – Singapore-based private equity firm Everstone Capital has hired BDA Partners to complete a sale of Everlife Holdings that could value the fitness company at up to $1 billion, two wise resources. . He said that.
The no-obligation offers for Everlife, which provides and responds to clinical and clinical laboratories in South and Southeast Asia, are expected in mid-November, with a deal expected to close during the first part of 2024, the sources said.
The appeals declined to be named because the matter is private.
Everlife, Everstone and BDA did not respond to requests for comment.
The sale comes after M&A deals in the Asia-Pacific region adding Japan fell 26% to a 10-year low of $624. 4 billion during the first nine months of this year, with the same era last year, according to LSEG data.
Health care deal activity in the region fell 6. 6% to about $37. 2 billion, the data showed.
Everlife as a buy-and-build platform aimed at offering comprehensive answers to the study and healthcare industries in Southeast Asia and India, according to its website.
The company, which counts healthcare venture capital firm Cure Capital as a minority investor, offers products from more than 250 vendors in fields ranging from clinical diagnostics to life sciences in seven countries, plus India and Singapore, it says.
Everstone Capital is the equity arm of Everstone Group, which manages more than $7 billion in assets.
The securities firm focuses on the mid-market and invests in corporations targeting India and Southeast Asia, according to its website. It has seven offices around the world, in addition to Dubai and New York, according to its website. (Reporting via Kane Wu in Hong Kong and Yantoultra Ngui in Singapore; editing by Mark Potter)