Full Press Release Details
Medical Group Signs Agreement to Acquire Bethesda Medical to Strengthen Healthcare Ecosystem in Singapore and Southeast Asia
- April 11, 2025 - Basel Medical Group Ltd (Nasdaq: BMGL), today announced the signing of a definitive agreement by its
subsidiary Basel Medical Group Pte. Ltd. to acquire Bethesda Medical Pte. Ltd., a leading Singapore-based healthcare provider specializing
in diagnostic imaging and outpatient care. The agreement marks a significant step in Basel Medical Group's strategic expansion
in Singapore and the broader Southeast Asian healthcare market. The completion of the acquisition is subject to customary closing conditions
and is expected to take place on or around April 30, 2025 or such other date agreed by the parties.
Partnership Evolves into Full Integration
Medical Group and Bethesda Medical have been collaborating on strategic partnerships aimed at enhancing patient care and operational
efficiencies. The agreement solidifies this relationship, enabling deeper synergies between the two organizations.
acquisition is a natural progression of our partnership with Bethesda Medical," said Raymond Cheung, Group Chief Executive Officer
of Basel Medical Group. "Their expertise in diagnostic imaging and outpatient services complements our existing orthopaedic clinics,
allowing us to offer a more comprehensive healthcare network for patients in Singapore."
and Cross-Referral Opportunities
Basel Medical Group's strong presence in orthopaedic care, the integration of Bethesda Medical's diagnostic and outpatient
services will create a seamless referral system, improving patient access to specialized treatments. This synergy is expected to enhance
clinical outcomes and operational efficiency across both groups.
Growth in Singapore and Southeast Asia
acquisition of Bethesda Medical marks the beginning of Basel Medical Group's expansion strategy in Singapore and the broader Southeast
Asian healthcare market. By broadening its service offerings and integrating advanced medical solutions, Basel Medical Group is positioning
itself as a key player in the region's evolving healthcare ecosystem.
vision is to build an integrated healthcare network that delivers high-quality, patient-centered care," added Raymond Cheung. "The
addition of Bethesda Medical is just the first step in our fast-paced growth strategy, with more developments to come."
Bethesda Medical Pte. Ltd.
Medical is a trusted healthcare provider in Singapore, specializing in diagnostic imaging and outpatient services. Known for its advanced
medical technology and patient-centric approach, Bethesda Medical has built a reputation for excellence in community healthcare.
Basel Medical Group Ltd
Medical is a Singapore-based provider of orthopedic and trauma services, sports medicine and surgery, orthopedic procedures, as well
as neurosurgical treatments. Our operations are based in Singapore, with our clinics being at 6 Napier Road, Unit #02-10/11 and Unit
#03-07, Gleneagles Medical Centre. Over the last 20 years, our group has forged strong and lasting relationships with a large base of
corporations, in particular those in the construction, marine and oil & gas industries, which underpin our robust business model.
As an orthopedic service provider in Singapore with a track record of over 20 years, we are well-positioned to ride the wave of growth
opportunities in the private healthcare industry in Singapore and across Southeast Asia driven by ageing populations, rising income levels,
increasing private insurance coverage, government effort and expenditure on healthcare, growing sports participation rate and Singapore's
position as a premium destination for healthcare services in Asia. Our management and medical practitioner team comprises a roster of
orthopedic and neurosurgery specialists, corporate finance and healthcare partnership specialists. Basel Medical Group Ltd serves as
the holding company of our group and we conduct our operations through our operating subsidiaries based in Singapore. For more information,
please visit the Company's website: www.baselmedical.com.
statements in this announcement are forward-looking statements, which involve known and unknown risks and uncertainties and are based
on the Company's current expectations and projections about future events that may affect its financial condition, results of operations,
business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as "aim",
"anticipate", "believe", "estimate", "expect", "going forward", "intend",
"may", "plan", "potential", "predict", "propose", "seek", "should",
"will", "would" or other similar expressions in this press release. The Company undertakes no obligation to update
or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations,
except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are
reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results
may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results
in the Company's filings with the SEC.