Global alternative asset manager TPG and Malaysia-based conglomerate Hong Leong Group have agreed to acquire the Southeast Asia operations of Malaysia-based health care provider Columbia Asia Hospitals from its US-based parent company Columbia Pacific Management. TPG and Hong Leong will acquire 17 hospitals and 1 health care clinic located in Malaysia, Indonesia, and Vietnam. The transaction values the assets at an estimated USD1.2 billion and is expected to close at the end of 2019.