King & Wood Mallesons (KWM) is delighted to have advised Icon Group (Icon) on its joint venture with Sunsuria. Icon is a leading provider of comprehensive cancer care, owned by one of the largest private equity firms in Asia, BPEA-EQT.
This joint venture is a high-profile example of cross-border collaboration across the region, with the signing ceremony attended by Malaysia Minister of Health, YB Dr Zaliha Mustafa; Senior Visiting Government Official of Department of Foreign Affairs and Trade, Australian High Commission, Dr Steven Barraclough; Trade and Investment Commissioner to Malaysia at the Australian Trade and Investment Commission (AUSTRADE), Ms Melanie Harris; and Tan Sri Datuk Ter Leong Yap, Founder and Executive Chairman of Sunsuria Berhad as well as signatories, Ms Serena Wee, CEO of Icon ASEAN and Hong Kong and Ms Audrey Ooi, CEO of Sunsuria Healthcare.
The KWM team was led by Partner and Co-Head of Private Capital Nicola Yeomans, supported by Senior Associate Emma Simpson and Solicitor Janine Wan.
Commenting on the transaction, Nicola Yeomans said, “We are thrilled to have advised Icon on this milestone strategic partnership with Sunsuria, one of Malaysia’s leading property developers. With a surge in demand from private hospitals, this partnership will serve to provide Malaysia with world-class oncology services and is an excellent example of collaboration across Singapore, Malaysia and Australia”.
The joint venture is Icon’s first foray in Malaysia, highlighting its significant commitment and growth plans in the oncology space across Southeast Asia.
