TPG has launched One Aged Care, a senior healthcare services platform combining three providers across Singapore and Malaysia, as it looks to tap rising demand driven by ageing populations in the region.
The platform is built on a string of roll-up acquisitions consisting of ECON Healthcare, Orange Valley Nursing Homes, and Ambulance Medical Service under the same holding company while retaining their existing brands, per a release. The platform was led by TPG’s mid-market growth fund in Asia, which had raised $742 million as of 2025.
One Aged Care launches with 16 nursing homes and more than 2,400 beds, alongside ambulance and medical transport services, positioning it to deliver integrated care across the community and aged care continuum.
“The region’s demographic transition is accelerating demand for quality long-term care,” said Ganen Sarvananthan, co-head of Asia at TPG. A scaled platform like One Aged Care can broaden access while leveraging technology to enhance services, he said.
The group will be led by Ong Hui Ming, former CEO of ECON Healthcare, who said the platform will “enhance continuity of care and scale best practices” across its network.
Singapore, where about 21% of the population is aged 65 and above, is among the world’s fastest-ageing societies, underpinning growing demand for nursing home and community-based care.
TPG has executed the classic private equity buy-and-build strategy for several portfolio companies in Southeast Asia, including Asia OneHealthcare, known to be among the largest private healthcare groups in the region. The private equity giant is set to deliver cash distributions from its exit in XCL Education, which was agreed to be sold to KKR for about $1.3 billion earlier this year.
