Saturday, December 11, 2010

S'pore's Healthway may get new outside investors

Sat, Dec 11, 2010

SINGAPORE - Healthway Medical Corp, which runs medical and dental clinics in Singapore and China, is speaking to potential investors who have expressed an interest in taking a stake, a company executive said.

"Healthcare in Singapore has become a very attractive sector for investors and Healthway has had its share of interest," Adrian Leong, group medical director and managing director of medical services, told Reuters in an interview.

"Some of this is in the midst of being discussed," he said. He declined to elaborate as the talks were confidential.

Interest in Singapore's healthcare sector has soared since Malaysian state investor Khazanah took over hospital operator Parkway in a US$2.6 billion (S$3.4 billion) deal earlier this year, beating a rival bid by India's Fortis Healthcare.

Singaporean billionaire Peter Lim is currently in the process of taking over Thomson Medical Centre for S$513 million (US$396 million).

Healthway has a market capitalisation of around US$205 million. The firm recently obtained shareholder approval to enter into transactions with interested parties, and it has hired a veteran healthcare executive with pan-Asian experience, Lam Pin Woon, as president and executive director.

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