Global private equity firm Bain Capital has acquired more than a 90 percent stake in China-based hospital operator Asia Pacific Medical Group (APMG) for US$150 million. The transaction, which was structured through Bain Capital Asia Fund II and Bain Capital Asia Fund III, facilitated an exit for two existing investors: China-focused private equity firm Cathaya Capital and development finance institution International Finance Corporation. APMG intends to use the new capital to expand the capacity of its hospitals in Shanghai and Beijing.