Temasek-backed SeaTown Holdings has invested S$150 million (US$110 million) in Singapore-based medical group Foundation Healthcare Holdings (FHH). The investment was made via SeaTown Private Capital Master Fund.
Following the deal, FHH announced that it has recruited 50 private medical specialists across Singapore and onboarded local healthtech firm Smarter Health. FHH said this will form the basis of its eventual regional private tech-enabled healthcare ecosystem.
The company added that by leveraging Smarter Health’s technology, it will develop a data-driven platform to improve coordination among healthcare stakeholders, especially insurers and third-party payers.
Moving forward, FHH plans to expand its network and coverage through a “buy-and-build” strategy and extend into other ancillary healthcare services.