Business Development Asia LLC
South East Asian Health News
ISSUE 4, DECEMBER 1997
SINGAPORE
AEA International, a medical emergency assistance group headquartered in Seattle, is considering a listing on the Stock Exchange of Singapore to fund its expansion efforts. AEA is the largest provider of emergency medical assistance in the Asia-Pacific region with 17 alarm centers and 14 medical centers in 22 countries. Last year, its worldwide revenues rose 43% to US$107m and are expected to grow to US$140m this year. (October 16th 1997)
AsiaMatrix has announced that Pantai Healthcare, a wholly owned Pantai subsidiary, has bought a 5.9% block of its shares for S$3.3m (US$2m). The move comes six months after Pantai sold its 19% stake in Parkway to DBS Land for S$391m (US$241m). AsiaMatrix will change its name to AsiaMedic Ltd, and the new company will target the region's medical specialist sector. (November 24th 1997
Parkway Holdings has been dealt a heavy blow by the region's economic turmoil in the past three months. An appreciating US$ coupled with the depreciation of the rupiah and ringgit against the S$ have resulted in a declining number of regional patients. Mount Elizabeth Hospital has seen a 10% drop in occupancy between August and October. (November 11th 1997)
Singapore Technologies Industrial Corp (STIC) has acquired 16.2% of Beng & Ooi Medical Services for S$2.9m (US$1.8m). STIC has an option to increase its shareholdings which would eventually give it a majority stake. STIC is now positioned to become a key player in the local healthcare services market, as Beng & Ooi operates the second largest chain of clinics in Singapore, comprising 10 clinics and one medical center. (October 17th 1997)
Vista Healthcare Asia plans to open a medical center in Singapore and has also agreed to set up a regional healthcare investment fund with Sembawang Corp. Vista is also building a S$126m (US$78m) tertiary care hospital and medical center in Metro Manila (see above). Vista is the first Singaporean company to make a major healthcare investment in the Philippines. This move is in line with Vista's goal to become a major regional healthcare player. (October 16th 1997)
Recent News: Indonesia, Malaysia, Thailand, Philippines, Vietnam, Regional Focus: Leading South East Asian Pharamaceutical Companies
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