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

Sirius Minerals inks massive polyhalite supply deal with Cibra Group
Author: Pankaj Singh

Sirius Minerals, the renowned U.K. based fertilizer development company, has recently announced its largest supply deal for its £3.2bn York Potash mine. According to sources familiar with the matter, the long-ter...


Agriculture Masterbatch Market to grow 6% CAGR over 2018 to 2024
Author: Rahul Varpe

As per reliable estimates, the Masterbatch Market for automotive sector is projected to surpass a CAGR of 5.8 percent over the next seven years. The consistent research and development activities being undert...


Polystyrene Acoustic Insulation Market to surpass $9bn by 2025
Author: Rahul Varpe

Acoustic Insulation Market size worth USD 10 billion in 2015, is predicted to touch USD 22 billion by 2025, recording a CAGR of 6% over the period of 2016-2025.” Acoustic insulation finds extensive application in construction and transportat...