TPG establishes elderly healthcare firm in Singapore, Malaysia

Published Tue, Mar 17, 2026 · 04:39 PM

[SINGAPORE] Alternative asset manager TPG has established a healthcare services group for senior citizens in Singapore and Malaysia, with 16 nursing homes and ambulances and other medical transport services.

One Aged Care has been formed by combining Econ Healthcare, Orange Valley Nursing Homes and Ambulance Medical Service, TPG said in a statement on Tuesday (Mar 17). Sharing their resources will enhance coverage and standards, it said.

Ong Hui Ming has been named chief executive officer of One Aged Care, which has headquarters in Singapore. She was previously Econ Healthcare CEO and is the daughter of its founder, Ong Chu Poh, according to the statement.

“By aligning clinical standards, quality frameworks and shared capabilities at the group level, we can enhance continuity of care and scale best practices,” she said.

Singapore is among the fastest-aging societies globally, with about 21 per cent of the resident population aged 65 and above in 2026, TPG said, adding that demand for nursing homes and community-based care is rising with longer life expectancy, lower fertility and infrastructure capacity constraints. BLOOMBERG