Templewater Said to Near Buying Controlling Stake in Luye Units

Templewater, a Hong Kong-based private equity firm, is nearing an agreement to buy a controlling stake in Luye Medical Group’s oncology and cardiology businesses in Singapore, people with knowledge of the matter said.

The potential deal values OncoCare Cancer Centre and Novena Heart Centre at about S$460 million ($337 million) including debt, said the people, who asked not to be identified as the process is private. Templewater could acquire about a 51% stake in the assets, one of the people said. An agreement may be announced as soon as in the coming weeks, the people said.

Although the ...