65 Equity Partners

Apex

Apex Healthcare Berhad (“Apex”) is a leading Southeast Asian pharmaceutical company with deep capabilities across branded generics, consumer health products, and distribution services. Headquartered in Singapore, with an expanding presence across Malaysia and Singapore, Apex develops, manufactures, markets and distributes a broad portfolio of pharmaceutical and consumer healthcare products that serve both prescription and over the counter segments. The company is recognised for its high-quality branded generics Xepa, and longstanding reputation in community healthcare, supported by an integrated supply chain and extensive distribution network.

Apex operates across the full value chain — from R&D and manufacturing to sales, marketing, warehousing and distribution — enabling it to deliver reliable, affordable, and quality assured medicine to clinics, pharmacies, and hospitals throughout the region.

Who we partnered with

65 Equity Partners is working closely with our shareholder partners and Apex’s seasoned management team to support the company’s next phase of growth. We aim to leverage our global and Singapore network to help Apex strengthen its presence in Singapore as a strategic hub for regional expansion and as an anchor for their value-creation strategy.

What attracted us to the business

Apex’s mission aligns strongly with our thematic focus on essential healthcare, quality generics, and broad-based access to medical products across Asia. The company’s robust manufacturing and distribution capabilities provide a scalable platform for product expansion and regional growth into the wider ASEAN region. Combined with a high quality, execution focused management team, and a clear pathway to unlock further value through capacity enhancements, portfolio deepening and commercial strengthening, Apex represents an opportunity to support an essential healthcare champion on its growth journey.

Our value creation strategy

65 Equity Partners will work closely with our partners to drive both organic expansion and strategic M&A activities, with the goal of building a leading regional integrated pharmaceutical and consumer health platform anchored in Singapore. Our value creation strategy focuses on accelerating R&D pipelines and strengthening external partnerships to bring new drugs to market faster; expanding consumer health presence by leveraging Apex’s strong distribution network; strengthening Apex’s regional presence in Southeast Asia; and driving operational excellence across business segments.

Website: https://apexhealthcare.com.my/#home

UltraGreen

UltraGreen.ai is a leading global producer of the Indocyanine Green (“ICG”) surgical dye, which is a near-infrared fluorescent imaging agent administered to aid real-time visualization and intraoperative decisions during surgical procedures. ICG is the most widely used fluorescent agent in Fluorescent Guided Surgeries (“FGS”). UltraGreen.ai operates an AI-based data quantification platform to enhance decision making in FGS and offers a complementary camera system. Incorporated in Singapore, UltraGreen.ai sells its ICG product to over 80 countries worldwide including key markets in the US and Europe.

Who we partnered with

As the anchor investor, 65 Equity Partners will work alongside UltraGreen.ai’s Chief Executive Officer, Ravinder Sajwan, and his senior management team to support UltraGreen.ai in its next phase of growth.

What attracted us to the business

UltraGreen.ai is the global leader in a fast-growing FGS market, with a diverse range of ICG applications unlocking growth opportunities across different medical fields. We are excited to be invested in such a high-quality business with strong fundamentals and look forward to supporting UltraGreen.ai’s continued expansion into new markets and applications.

Website: https://ultragreen.ai/

Allied OMS

Founded by surgeons, for surgeons, Allied OMS is a premier, physician-led management services organization (MSO) that partners with leading oral and maxillofacial surgery (OMS) practices across the United States. Since its inception in 2020, Allied has built a differentiated, physician-centric platform that combines clinical excellence with operational and strategic expertise. Today, Allied supports a growing network of more than 50 high-quality practices nationwide, helping surgeons enhance patient care while scaling their businesses.

Who we partnered with

65 Equity Partners is proud to partner with Allied’s founding team, CEO Dan Hosler, and over 50 physician-owners who share a commitment to exceptional outcomes and a long-term vision for the specialty. This transaction brings in co-investors Everberg, Comvest, and Aquarian, who are also supporting the debt financing.

What attracted us to the business

We were drawn to Allied’s unique model that puts physicians at the center—attracting the best surgeons in the country and aligning incentives to deliver superior care. The business is well-positioned to capitalize on strong secular trends: increasing demand for oral healthcare, growing patient volumes, and significant white space for consolidation in a highly fragmented sector. Allied’s culture of clinical leadership and focus on patient-first care stood out as a compelling foundation for sustainable growth.

Our value creation strategy

Our investment will support Allied in expanding its service offering, scaling core operational capabilities, and executing a robust acquisition strategy—all while preserving its physician-led ethos. We see opportunities to accelerate organic growth, expand access to high-quality oral healthcare across more communities, and create enduring value for patients, physicians, and stakeholders alike.

Website: https://alliedoms.com/

Kee Safety

Founded in 1934, Kee Safety is a global leader in safety equipment.
The company specializes in the design, installation, and certification of safety systems, offering innovative solutions for fall protection, safe access and ground safety to separate people from hazards.

Since inception, the Company has significantly expanded its product range and global footprint, with sales into 60 countries across the US, Europe, Asia, and the Middle East.

Kee Safety remains committed to innovation, leveraging its world-class testing facilities and expertise in international safety markets to drive new product developments.

Who we partnered with

65 Equity Partners partnered with Chairman Chris Milburn and the company’s long-tenured management team, alongside co-investors Inflexion and ICG.

What attracted us to the business

With strong presence in all safety verticals, Kee Safety offers the most comprehensive range of high-quality products, delivered through a vertically integrated installer model.

In a highly fragmented market, Kee Safety has demonstrated an impressive track record of organic and acquisitive growth with over 54 businesses acquired to date and a healthy pipeline for future M&A.

Kee Safety is well positioned to capitalize on long-term structural growth drivers around increasing compliance and regulatory requirements and awareness for health & safety.

Our value creation strategy

We will work closely with the Kee Safety team to support international expansion and M&A, leveraging our global footprint.

Website: https://www.keesafety.com/