Singapore-listed Alliance Healthcare Group Limited, an integrated healthcare firm that leverages technology to provide broad suite of healthcare services primarily in Singapore, has agreed to acquire a 55-per cent stake of the enlarged issued share capital of Jaga-Me Pte Ltd.
Alliance Healthcare said its wholly owned subsidiary has entered into a sale and purchase agreement to acquire 55 per cent of Jaga-Me’s enlarged issued share capital for S$3.5 million ($2.6 million).
The transaction will be carried out via the purchase of existing vendor shares and the subscription of new shares in the capital of Jaga-Me for a cash consideration of approximately S$1.5 million and S$2.0 million respectively.
Jaga-Me is a company incorporated in Singapore on 23 November 2015. It has designed and developed an award-winning digital healthcare platform whose mission is to empower patients across Asia with seamless and reliable access to quality healthcare, beyond the walls of traditional institutions like hospitals, clinics, and other healthcare facilities.
Its proprietary digital platform enables consumers to use a mobile web application to schedule and pay for clinical services, medical equipment and consumables -which are delivered to a patient in the comfort of their homes.
Jaga-Me also curates and deploys a network of over 500 licensed healthcare professionals, with the majority of these professionals being registered nurses, complemented by therapists and certified caregivers.
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Alliance Healthcare said the proposed investment will allow it to leverage on Jaga-Me’s mobile health capabilities and scalable digital platform to support the delivery of holistic care to patients across workplaces, clinics, hospitals and homes.
The deal is anticipated to further strengthen the groups’s product portfolio and competitive advantage to meet corporate clients, insurance partners and patients’ increasing demand for higher levels of convenience and personalization through smartphone technology.
“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,” said Barry Thng Lip Mong, Executive Chairman and CEO of Alliance Healthcare. – BusinessNewsAsia.com