healthcare industry

Hyphens flies Asian flag in pharma industry

SINGAPORE (May 29): Healthcare veteran Lim See Wah's rejection from medical school more than three decades ago turned out to be a significant pivot in his entrepreneurial journey.

Settling instead for a place in the Department of Pharmacy at the National University of Singapore's Faculty of Science, Lim discovered a passion for pharmaceuticals in the ensuing years.

"I grew up wanting to be a doctor. But pharmacy turned out to be an exciting and inspiring discipline," he recalled.

Acromec secures 3 new contracts worth $6.2 mil

SINGAPORE (July 3): Acromec, the specialist engineering provider, has secured three new contracts amounting to about $6.2 million.

The first contract is for additions and alterations to a new endoscopy suite at a medical centre for a repeat customer in the healthcare industry. The project will be carried out in two phases and is expected to be completed by the end of FY18

Aoxin Q&M acquires dental clinic in China for $4.13 mil

SINGAPORE (May 18): Aoxin Q&M Dental Group has entered into a memorandum of understanding (MOU) with an individual, You Zhongjiang, to acquire 100% of the shareholdings in Youxin Dental Clinic in China for RMB19.6 million ($4.13 million).

According to the MOU, You will be restructuring Youxin Dental into a limited liability corporate entity, named as Jinzhou Aoxin Youxin Dental Hospital.

Located in Jinzhou City, Liaoning Province, the dental clinic has been operating since 1995.

Health Management International is back in Singapore's healthcare scene with its latest acquisition

SINGAPORE (May 18): More than a decade after ceasing hospital operations in Singapore, Health Management International (HMI) is making a comeback.

The group has struck a deal to own a majority share in a specialist day-surgery centre here.

The move back is driven by the growing demand for private healthcare — particularly ambulatory care, or outpatient services and procedures — in Singapore. And, an ambulatory care centre tends to cost less to operate than a full-fledged, multi-disciplinary hospital, analysts say.

AI healthcare startup UCARE.AI secures $8.2 mil funding

SINGAPORE (May 16): UCARE.AI, a Singapore-based artificial intelligence (AI) healthcare startup, has recently concluded its Series A funding, bringing total investment to $8.2 million to date.

The Series A global investors included VC firm Walden International, insurance group Great Eastern, Singaporean investor and philanthropist Peter Lim, as well as law firm WongPartnership’s startup initiative WPGrowth Ventures.

Amazon, Berkshire, JP Morgan team up to cut healthcare costs in US

(Jan 31): Inc, Berkshire Hathaway and JPMorgan Chase & Co said on Tuesday they will form a company to cut health costs for hundreds of thousands of their US employees, setting up a major challenge to an inefficient US healthcare system.

The move by three of the best-known US business leaders - Amazon’s Jeff Bezos, Berkshire’s Warren Buffett and JPMorgan’s Jamie Dimon - would take on the world’s most expensive healthcare system, whose mounting costs have hurt corporate profits. Shares in US healthcare companies fell across the board.

Should Asian investors buy into the story of rising healthcare demand?

SINGAPORE (March 31): At least one observer has held up Singapore’s healthcare system as a model for the developed world. But the system is not without its own issues.

Government data shows that healthcare costs have gone up considerably over the past decade, even as the country positioned itself as a regional hub for medical tourism. The country’s ageing population will put further pressure on the system.

Singapore Medical Group fully acquires Lifescan Imaging for $8.5 mil

SINGAPORE (Aug 8): Singapore Medical Group (SMG) has proposed to fully acquire its 38.1% owned associated company, Lifescan Imaging, an imaging and radiology firm, for a consideration sum of $8.5 million.

In a Monday statement, the healthcare services provider says the remaining 61.9% stake would have contributed an additional net profit of $348,000 for 1H16.

The earnings-accretive acquisition will be funded via the issuance of 33.36 million new SMG shares at about 25.6 cents each, and carries a price-to-earnings (P/E) ratio of 12.3.

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