Singapore-based investment manager SeaTown Holdings has backed the establishment of Foundation Healthcare Holdings Pte Ltd (FHH), a ground-up, purpose-built tech-enabled healthcare services ecosystem headquartered in the city-state.
SeaTown invested in the startup through its private equity fund SeaTown Private Capital Master Fund, according to an announcement.
FHH, which consists of over 50 private specialists across 13 medical specialties in Singapore and healthtech company Smarter Health, seeks to become a regional healthcare platform that will offer specialty services, ambulatory centres, and other ancillary healthcare services in Singapore and the region.
The new platform will be headed by Liaw Yet Ming and Dr Lee Hong Huei – former senior executives in IHH Healthcare and veterans in the healthcare industry.
“There are endless opportunities if stakeholders work together to focus on delivering value for patients. Our vision is to leverage this platform to build a sustainable private healthcare system that is accessible, affordable, and accountable,” Liaw said.
SeaTown Holdings, on the other hand, manages multi-asset and public equity strategies through open-end funds as well as private investment strategies in closed-end funds. It is a wholly owned subsidiary of Seviora Holdings and indirectly owned by Temasek Holdings.