KUALA LUMPUR (July 21): Apex Healthcare Bhd (KL:AHEALTH) climbed to an eight-month high on Monday following news that the founding Kee family could be looking to exit the pharmaceutical company.

The family investment companies of Dr Kee Kirk Chin, the chairman and chief executive of Apex Healthcare, are “periodically in discussions with industry players and external parties on potential collaborations”, the company said in an exchange filing.

However, no discussions have developed to an extent that justifies further comment, Apex Healthcare said following enquiries. The Kee family holds a 42.61% stake in the company.

The counter gained as much as 6% to RM2.53, its highest since November 2024, as trading resumed following a one-hour trading halt to facilitate the company’s response to a report by The Edge Malaysia in the July 21-27, 2025 weekly issue.

In the article, multiple sources familiar with the matter said the Kee family has been in talks with potential suitors, including a foreign buyer, to divest part or all of its stake in the company that manufactures generic pharmaceuticals and medical devices.

Although Apex Healthcare has denied a takeover bid from Hong Shan Capital, formerly Sequoia Capital China, the report also mentioned Shanghai Pharmaceuticals Holding Co Ltd, Apex's joint venture partner in Zynexis Healthcare, as a possible buyer.

Apex Healthcare was established in 1962 by Kee Tah Peng and has been led by his son Kee Kirk Chin for the past two decades. His other son Kee Kirk Chuen is a non-executive director at the company that also serves contract manufacturer for major pharmaceutical companies. 

The second-largest shareholder of Apex Healthcare is Australia’s Washington H Soul Pattinson & Co Ltd, which holds a 29.54% stake. Together, the two parties control over 72% of the company’s share base, making the stock relatively illiquid.

The stock paused for midday market break at RM2.47, giving the company a market capitalisation of about RM1.8 billion.