Orthopaedic group Asian Healthcare Specialists eyes Catalist IPO

Orthopaedic group Asian Healthcare Specialists eyes Catalist IPO

Stanislaus Jude Chan
29/03/18, 01:53 pm

SINGAPORE (Mar 29): Asian Healthcare Specialists, a group of five orthopaedic specialists operating four The Orthopaedic Centre clinics in Singapore, has lodged a draft prospectus for an initial public offering (IPO) on the Catalist board of the Singapore Exchange.

There will not be a public tranche as AHS will be issuing new shares through a placement exercise which will be made available to retail and institutional investors in Singapore.

While the size of the IPO has not been announced, AHS says proceeds will be used to expand its business through acquisitions, joint ventures or strategic alliances, as well as to invest in synergistic businesses and to invest in management and healthcare professionals.

AHS is primarily engaged in the provision of a comprehensive range of orthopaedic, trauma and sports services – both surgical and non-surgical.

Common medical problems treated by the group include fractures, torn ligaments, compressed nerves, “slipped discs”, and sports injuries such as golfer’s elbow.

For the FY17 ended September, AHS posted earnings of $438,000 on the back of revenue of $11.0 million.

The group reports that adjusted net profit would have been $4.5 million in FY17, if the consultancy service fees paid to the group's specialists had been replaced with employment and service agreements during this period.

As at end September, cash and cash equivalents stood at $2.1 million.

“We are well-positioned to capture the growing demand for private orthopaedic services arising from an ageing population, rising income levels and an increase in the number of insured patients,” AHS says.

AusGroup to buy housing village & facilities on Australia's Melville Island for $11.4 mil

SINGAPORE (Feb 19): AusGroup, the construction and marine services provider, is acquiring an accommodation village plus facilities worth A$11.8 million ($11.4 million). The village comprises a 119-man accommodation camp, kitchen, administration building and recreational facilities at Port Melville, Melville Island in the Northern Territory of Australia, supporting the Northern Territory oil and gas industry and marine transport industry. The acquisition will be made in cash, and comes without mortgage or security interests. AusGroup’s unit, NT Port and Marine, on Monday signed a gen....

Defensive utility stocks could ride infrastructure boom

SINGAPORE (Feb 18): Utility companies, which are usually deemed to be boring defensive stocks, could turn out to be sexy growth counters. This is because the growing demand for better infrastructure and amenities on the back of the population growth and rising affluence in Asia-Pacific is leading to the implementation of new utility projects in the region. “Because of their strategic significance, utility services have traditionally been provided by the public sector. However, ballooning population growth and fiscal constraints have resulted in more of the world’s utility services to sp....

Space tech start-up Transcelestial lasers in on high-speed connectivity

SINGAPORE (Feb 18): A few months ago, inside a second-storey shophouse in Chinatown, Rohit Jha and his team fired up a PlayStation 4 set. ­Using its controllers, he virtually navigated a small toy car, manoeuvring through a track on a remote rooftop of one of the buildings in Chinatown. The tiny vehicle was monitored by a couple of cameras and linked wirelessly to the team’s office a few blocks away. Jha, CEO and co-founder of space tech start-up Transcelestial, says he often demonstrates the capabilities of the company’s product through the PlayStation setup. The effort has paid off. ....