Medical Partnerships with Singapore’s Lung Specialists
In June 2022, OUEH formed a partnership with three medical specialist groups (the “Medical Partners”) in Singapore via its joint venture company with OUE (“OUE JV”). OUEH and OUE hold 60% and 40% respectively in OUE JV.
Under the partnership, OUE JV and the respective founders of the Medical Partners hold a 60:40 shareholding in O2 Healthcare Group Pte. Ltd., which in turn owns 60% of each of the Medical Partners (collectively, the “O2 Healthcare Group”).
O2 Healthcare Group comprises two leading Respiratory Specialist Practices in Singapore - Respiratory Medical Associates (“RMA”) and The Respiratory Practice (“TRP”), as well as a two leading Cardiothoracic Surgery Practices operating as Thoracic & Cardiovascular Surgery Specialist (“TCSS”) and Kang Ning Cardiothoracic Surgery (“KNCS”). As at 31 December 2023, there are 13 specialist doctors operating in the 11 clinics.
The partnership is an important milestone in OUEH’s journey to build a regional healthcare ecosystem, comprising the full spectrum of tiered healthcare services anchored on Singapore’s medical best practices.
RESPIRATORY MEDICAL ASSOCIATES
RMA is a medical group practice comprising five medical practitioners in respiratory medicine, and is located in three private medical centres in Singapore. RMA’s medical clinics are specialist clinics for the diagnosis and treatment of lung, sleep and allergy disorders. It directly serves patients as its end customers.
THE RESPIRATORY PRACTICE
TRP is a medical group practice comprising six medical practitioners in respiratory medicine, and is currently located in seven private medical centres in Singapore. TRP’s medical clinics are specialist clinics for lung (including sleep and allergy) and intensive care medicine. It directly serves patients as its end customers.
THORACIC & CARDIOVASCULAR SURGERY SPECIALIST KANG NING CARDIOTHORACIC SURGERY
TCSS and KNCS are both medical practices with a sole medical practitioner, who are both cardiothoracic surgery specialists, and are both located in private medical centres in Singapore. Both surgery practices provide cardiac and minimally invasive cardiac surgery and thoracic and minimally invasive thoracic surgery and directly serve patients as its end customers.
HEALTHWAY MEDICAL
On 26 October 2023, the Group completed the acquisition of a 26% interest in Healthway Medical Corporation Limited (“HMC”) by way of an exit offer for the voluntary delisting of HMC from the Catalist Board of the SGX-ST.
HMC is a private healthcare provider, with one of the largest networks of clinics and medical centres in Singapore. HMC began operations in 1990 with one mission - to provide accessible, affordable and quality medical services to our patients.
HMC currently owns, operates and manages over 130 clinics and medical centres. These facilities are located all over Singapore, including many major private hospitals. HMC offers comprehensive medical services including general practitioner and family medicine clinics, health screening, adult specialists, baby & child specialists, dental services and allied healthcare services.
In January 2024, HMC expanded its network with the opening of Cura Day Surgery at Camden Medical Centre. The new surgical facility offers comprehensive and specialised medical services delivered with surgical expertise, quality nursing care and modern surgical technology. Coupled with patient suites with private bathrooms, it provides a quiet, comfortable and conducive environment for a speedy recovery
