Singapore Medical Group

Singapore Medical Group announces $50 mil share purchase from existing shareholder CHA

SINGAPORE (Feb 20): Singapore Medical Group (SMG) says its 6.86% shareholder CHA Healthcare Singapore (CHAS) is increasing its stake in the group to 24.13% by purchasing existing shares from certain SMG shareholders via a $50 million investment.  

This comes after the group called for a trading halt following a 4.4% surge in its share price to 47 cents within the first three hours of trading today.

Singapore Medical Group subsidiary launches telehealth platform HiDoc

SINGAPORE (Jan 31): Singapore Medical Group (SMG) subsidiary HiDoc today launched its new telehealth platform, which is meant to provide first-of-its-kind telehealth and video conferencing services while giving accredited specialists access to patient health records.

Image: HiDoc co-founders CTO Carolyn Goh and CEO Christina Low

The platform aims to deliver medical diagnosis within 24 hours upon consultation, or instantly through video conferencing.

Currently, HiDoc says there are close to 15 specialists on the platform.

Singapore Medical Group acquires 85% of SW1 Clinic for $6.5 mil

SINGAPORE (Mar 1): Singapore Medical Group (SMG) is acquiring an 85% stake in Pheniks for $6.5 million from two parties – Kenneth Lee Cheng San and Low Chai Ling.

Pheniks operates aesthetic and plastic surgery clinic, SW1 Clinic, located in Paragon medical Centre, Orchard Road. Both Lee and Low are aesthetic medical practitioners for SW1 Clinic.

The group will fund the acquisition via a combination of internal resources, bank facilities and fund raising in the capital markets.

Singapore Medial Group started at 'buy' on continued robust growth

SINGAPORE (Nov 13): DBS is initiating its “buy” call on Singapore Medical Group (SMG) with a target price of 75 cents on the back of continued robust growth post a successful turnaround.

In a Monday report, analyst Andy Sim projects the group’s core earnings growth of 292%/32% in FY17F/18F on the back of further scaling up of its diagnostics business; recent acquisitions; and margin expansion from larger scale of operations.

Singapore Medical Group undertaking review of acquisitions strategies

SINGAPORE (April 24): Singapore Medical Group is undertaking a review of its current and future acquisitions strategies.

In a filing with the Singapore Exchange on Monday evening, SMG said that in the recent course of work, through dialogues with the professional governing body and professional doctors, its management's attention has been drawn to the Singapore Medical Council's ethical code and ethical guidelines (ECEG).

Singapore Medical to enlarge client base to babies and children with acquisition

Credit: Singapore Medical Group

SINGAPORE (April 21): Maybank Kim Eng is maintaining its “buy” on Singapore Medical Group with a higher target price of 78 cents on the acquisition of two paediatric clinics in Toa Payoh and Bishan for $25.3 million.

The valuation of the two clinics is 11x P/E with a five-year profit guarantee of $2.3 million p.a. They are expected to provide synergies and cross-selling opportunities for its women’s health division, which has eight specialists.

Singapore Medical Group swings around with record FY16 earnings of $2.4 mil

SINGAPORE (Feb 27): Singapore Medical Group (SMG), the healthcare services provider, has swung back into profitability for FY16 with record earnings of $2.4 million on higher revenue.

Group revenue for the full year ended Dec 31 surged 34.3% on-year to $41.6 million, mainly driven by contributions from the healthcare segment, which grew 35% to $29.9 million.

Singapore Medical Group’s expansion into Vietnam market is just the beginning

SINGAPORE (Jan 10): RHB is maintaining its “buy” call on Singapore Medical Group (SMG) with a target price of 63 cents following the recent news of the group’s expansion into Vietnams’ private healthcare market.

To recap, SMG via its 50%-owned joint venture (JV) entity, SMGIV, recently acquired a US$1.6 million investment stake in Singapore-based investment company CityClinic Asia Investment (CCAI).

Singapore Medical Group’s acquisition of O&G chain a sign of more to come

SINGAPORE (Oct 12): Following the acquisition of the Astra Women's Specialists group of obstetrics and gynaecology clinics on Tuesday, Singapore Medical Group is expected to continue acquiring other private clinics in existing and new fields, according to RHB Research.

(See also Singapore Medical Group to acquire 6 O&G clinics from Astra Women Specialists for $60 mil)

Singapore Medical Group to acquire 6 O&G clinics from Astra Women Specialists for $60 mil

SINGAPORE (Oct 11): Singapore Medical Group is acquiring the six obstetrics and gynaecology (O&G) clinics under the Astra Women Specialists group of clinics for $60 million.

Astra Women Specialists’ flagship clinic is located at Mount Elizabeth Novena Specialist Centre, while the remaining clinics are located in the suburbs.

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