TPG-backed The Rise Fund and Hong Leong Group completed the acquisition of Kuala Lumpur’s International Medical University for $306m.

TPG-backed The Rise Fund, a private equity firm, and Hong Leong Group, a trading company, completed the acquisition of Kuala Lumpur’s International Medical University, a medical university for $306m. Malaysia’s Ministry of Higher Education has approved the deal, which also includes the sale of a hospital owned by IMU to Columbia Asia.