TPG-backed One Aged Care buys Active Global in eldercare push
What's the deal? TPG-backed One Aged Care (OAC) has acquired Active Global Specialised CaregiversDealroom has a profile for this one. Try Dealroom →, a provider of home and community-based care in Singapore and Hong Kong. The companies did not disclose the financial terms. The deal extends Singapore-based OAC beyond residential facilities into home care, building what it calls an "integrated regional platform" for an ageing population.
Who are they? Founded in 2012 by Yorelle Kalika, Active Global provides home-care and nursing services across Singapore, Hong Kong, and Shanghai. OAC was formed in March 2026 by TPG, combining ECON HealthcareDealroom has a profile for this one. Try Dealroom →, Orange Valley Nursing Homes, and Ambulance Medical Service under one structure.
What's the endgame? OAC runs 15 nursing homes with more than 2,400 beds across Singapore and Malaysia, plus over 50 ambulances and medical transport vehicles. It plans to open four more homes within a year, lifting capacity above 3,800 beds. Active Global adds home-based services to a continuum that spans nursing care, day care, rehabilitation, and medical transport.
Why now? Singapore's policy favours care at home and in the community, and demographics are shifting fast. Some 21.4% of citizens were 65 or older in 2026, a share projected to exceed a quarter by 2035.
What's the broader move? The purchase stretches OAC's reach into Hong Kong and deeper into Singapore's home-care market, complementing its facility-based network. "The acquisition of Active Global advances our vision of building a truly regional healthcare platform," said Richard Seow, chairman of One Aged Care.
What's in it for the target? "As part of the OAC group, we will have additional resources to strengthen our services while remaining focused on the people who rely on us," said Steven Chiu, group chief executive officer of Active Global.
The signal: Investors are circling Asia's fragmented eldercare market, where ageing populations are pushing consolidation around larger, integrated providers. Recent deals include InvAscentDealroom has a profile for this one. Try Dealroom →'s minority stake in India's Geri Care Health Services and MBK PartnersDealroom has a profile for this one. Try Dealroom →' sale of Japan Well-being to Advent InternationalDealroom has a profile for this one. Try Dealroom →. For TPG, the deal advances its platform strategy, though terms and integration will determine how much it changes the group's scale.
Read more: dealstreetasia.com
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