Alliance Healthcare Invests in Digital Healthcare Platform
19 Dec 2019
- Proposed investment in 55.0% of the enlarged issued share capital of Jaga-Me Pte. Ltd. for S$3.5 million
- Investment allows Alliance Healthcare to expand its holistic patient care delivery through mobile health capabilities and a scalable digital platform
Alliance Healthcare Group Limited (SGX: MIJ), an integrated healthcare organisation that leverages on technology to provide a broad suite of healthcare services primarily in Singapore (“Alliance Healthcare” or the “Company”, and together with its subsidiaries, the “Group”), is pleased to announce that its wholly-owned subsidiary, Alliance Healthcare Pte. Ltd. (“AHPL”) has entered into a sale and purchase agreement (“SPA”) with the vendors and a share subscription agreement (“SSA”) with Jaga-Me Pte Ltd (”Jaga-Me”) and the founders, namely Koo Ming Sheng, Julian and Kuah Ling Ling, to invest in 55.0% of Jaga-Me’s enlarged issued share capital. The transaction will be carried out via the purchase of existing vendor shares and the subscription of new shares in the capital of JagaMe for a cash consideration of approximately S$1.5 million and S$2.0 million respectively (collectively, the “Proposed Investment”).
Executive Chairman and CEO of Alliance Healthcare, Dr Barry Thng Lip Mong (唐立茂) commented, “The Group is thrilled to welcome Jaga-Me onboard. The Proposed Investment enables the Group to seamlessly deliver quality healthcare to all patients, including rapidly ageing population, which is line with our growth strategy. Through this strategic investment, it allows us to further tap on Jaga-Me’s proprietary digital healthcare platform and extensive network of medical professionals to augment our business expansion. We look forward to exploring in-depth synergies with Jaga-Me as we continue to provide differentiated and cost-effective healthcare solutions for diverse medical needs, such as hospitalization, critical illness care, and chronic care.”