Singapore, 5 May 2014 – Private equity firm KV Asia Capital (“KV Asia”), through its related investment vehicle Eldercare Holdings Pte. Ltd. (“Eldercare Holdings”), has acquired 100% equity interest in Orange Valley Healthcare Pte. Ltd. and its subsidiaries (“Orange Valley”), Singapore’s leading nursing home provider.
Founded in 1993, Orange Valley is a leading provider of quality nursing care in Singapore. It offers nursing home services, home care services and ambulance services, and has 20 years of operational experience with nursing homes. Orange Valley owns and operates six nursing homes in Singapore which are conveniently located within the vicinity of full-fledged hospitals and housing estates. As of May 2014, Orange Valley has c.1000 nursing home beds and employs over 500 staff in Singapore.
Mr. Karam Butalia, Executive Chairman of KV Asia, said, “Orange Valley is a pioneer and leader in the nursing home sector in Singapore. With its focus on high-quality resident care and established management systems, we believe Orange Valley is well-positioned to serve the needs of the elderly and capture the growing demand for quality aged care services in Singapore and the region. We are excited to work closely with management, the board and our advisors, to enhance care standards and effect growth going forward.”
Mr. Chandra Das, Chairman of Eldercare Holdings commented: “I am honoured to be appointed Chairman of Eldercare Holdings, and to lead Orange Valley in its next chapter of growth. We are well aware of the demand for quality aged care services, and are excited to leverage the experience and know-how of our advisors, management and staff to take the company forward. Our core business value remains to deliver the highest standards of care and support to our elderly residents and their families.”
About KV Asia Capital
KV Asia Capital is a Singapore headquartered private equity firm focused on making investments in mid-sized companies in South East Asia. The firm typically acquires significant or controlling ownership interest and emphasizes growth, value and quality. The experienced and multi-disciplinary team aims to be the partner of choice by facilitating profitable change through strategic, operational and financial initiatives. KV Asia Capital has offices in Singapore and Jakarta.
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