Luye’s NHC buyout to fulfill the demand for cardiovascular treatment
Date: 2018-04-10   Author: Saipriya Iyer  Category: #news

Luye Medical Group Co., Ltd, a renowned Singapore-based hospital operator has scarcely made a major investment in the NHC (Novena Heart Centre). If reports are to be believed, the valuation of the signed agreement has not yet been disclosed by either of the entities. The deal falls among Luye’s latest investments in medical care service providers in Singapore, inclusive of AsiaMedic and OncoCare Cancer Centre.

For the record, Luye Medical Group, under its umbrella, has 53 healthcare facilities spanning 26 cities across Australia, South Korea, China, and Singapore. According to the company’s official statement, the acquisition of NHC will help Luye to fulfill the growing demand for cardiovascular treatment in Singapore.

NHC's consultant cardiologist and co-CEO, Dr. Hsu Li Fern, has been quoted stating that NHC basically plans to establish more clinics in Singapore’s private hospitals, which would now be more convenient with Luye’s support. Incidentally, Luye Medical also aims to expand NHC's cardiology practice in China.

According to Luye’s group chief executive officer, Charles Wang, NHC’s acquisition would considerably strengthen the company’s reach in Singapore. Additionally, the deal would underscore Luye’s strategy to concentrate on expanding medical specialty areas as well as integrated services. He further went on to say that the agreement would enable Luye to leverage NHC's expertise in the medical field in addition to increasing its competency in cardiovascular treatments.

For the uninitiated, Novena Heart Centre is located in the Mount Elizabeth Novena Hospital and is a multi-disciplinary cardiology group practice. The entity is inclusive of five cardiology disciplines along the likes of cardio thoracic surgery, heart rhythm management, coronary intervention, heart failure, and cardiac imaging.

Incidentally, the Singapore-based healthcare company had also recently made it to the headlines when it decided to launch its Singapore IPO. Financially supported by Chinese entrepreneur Liu Dianbo, Luye plans to raise close to USD 500 million, claim sources familiar with the matter.



About Author


Saipriya Iyer

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

More from Saipriya


Post Recommendents

Humana & PE firm consortium to buy Curo Health for $1.4 billion
Author: Paroma Bhattacharya

A consortium consisting of the notable U.S. health insurer Humana along with PE firms Welsh, Carson, Anderson & Stowe and TPG Capital announced that they have reached an agreement to acquire Curo Health Services, a...


Bill 13 to ensure energy retailers attend to billing complaints pronto
Author: Paroma Bhattacharya

Under a new bill introduced in Alberta, Canada, electricity and gas retailers in the state will be liable to pay hefty fines if they fail to settle customer billing complaints. Bill 13 now gives the Alberta Utilities C...


Evonik launches RESOMER composite polymers for bone fixation devices
Author: Ojaswita Kutepatil

Evonik, one of the leading biodegradable bone graft polymers industry majors, has recently announced the launch of its very first product grade from a brand-new product line of RESOMER Composite polymers.