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Singapore: Novena makes acquisitions in Singapore and Taiwan

Singapore-based Novena Global Lifecare Group, one of Asia’s largest and fastest-growing integrated medical healthcare and aesthetic groups, has announced a number of acquisitions. It has bought four eye care centres in Singapore and a majority stake in Taiwan’s Hexin Group, the third largest healthcare screening provider in Taipei. Financial terms have not been disclosed.

In Singapore it has acquired Total EyeCare Center at Orchid Hotel and a branch in Jurong East with a client base of more than 25,000 patients; and the Specialist Eye & Eyelids Clinic at Novena and The Eye & Aesthetics Clinic in Suntec City.

“This investment is the first of several to come as we execute our vision to provide integrated and quality healthcare and medical aesthetic services at affordable prices to our patients in Singapore and the region,” said Nelson Loh, executive chairman and co-founder of Novena Global.

The acquisition of a majority stake in Hexin will allow Novena Global to manage and oversee healthcare screening services in some of the largest hospitals in Taipei, namely Taipei Medical University Hospital, Taoyuan General Hospital, China Medical University Hospital and Taipei Beitou Hospital.

Hexin Group was founded in 2007 and works with hospitals in Taiwan to provide health monitoring services to corporate clients’ employees. Its key corporate accounts include the top MNC companies in financial services, electronics, biotech, hospitality, consumer and retail sectors. In all, Hexin provides health screening for over 200,000 corporate employees.

In Taiwan, Novena Global said that it also plans to develop predictive care through DNA testing with its partnership with another Taiwanese company, Health GeneTech. It will work with leading universities and regional labs in Taiwan, Korea, India and Hong Kong to develop an extensive database on Asian genetics for predictive developmental and healthcare management.

It is also in talks with what it calls “a Taiwan leading healthcare group” to develop a maternity care centre as it sees a growing market for post-natal care in Singapore.

In late July Novena Global announced that it plans to raise US$150 million through a listing on the Taiwan Stock Exchange to expand regionally in North Asia both organically and through acquisitions.

Posted on: 16/11/2017 UTC+08:00


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