Friday, 19 July 2024

HMI Group acquires healthcare firm MHC Asia in Singapore

16 May 2023 | News

Combined entity to bring together both groups’ competitive strengths to deliver integrated, comprehensive and seamless healthcare to patients

Image credit: shutterstock

Image credit: shutterstock

Health Management International (HMI Group), a regional healthcare provider, has entered into an agreement to fully acquire MHC Asia Group, a leading medical benefits administrator and healthcare technology platform in Singapore.

With a revenue base of more than S$350 million, this investment enables the Group to tap into the digital healthcare opportunity in Southeast Asia, with an estimated market size of $11 billion by 2027.

The combination of HMI Group and MHC into one vertically integrated healthcare platform places the Group in a better position to address some of the key challenges that Singapore’s healthcare sector is expected to face over the coming years, including a rapidly ageing population, rising healthcare costs and a growing prevalence of chronic diseases.

Together, the HMI Group serves more than 3 million patients per year across a full suite of digital and physical services ranging from telemedicine, diagnostics, health screening, as well as primary, specialist, ambulatory and inpatient care.

In Singapore, the HMI Group owns 45 primary care and health screening centres, 15 specialist centres, and an 11-storey ambulatory care centre, in addition to a panel of approximately 1,500 primary and specialist clinics through its medical benefits network. In Malaysia, it owns two leading tertiary hospitals in Johor and Melaka, which are both MediSave accredited for overseas day surgery and hospitalisation.

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