65 Equity Partners-backed Tamarind Health offers to privatize healthcare firm TalkMed
In order to privatize cancer specialist TalkMed Group, Tamarind Health, a pan-Asian oncology-focused organization established in Singapore and supported by investors such as Temasek unit 65 Equity Partners, is proposing S$0.456 ($0.34) per share.
The offeror plans to delist and privatize TalkMed, the company said in a statement on Monday.
By uniting a greater variety of services and expertise under a single entity, the deal is anticipated to enhance patient care, the statement reads.
It will improve the exchange of information between medical specialists and open doors for oncologists to further specialize.
Patients will receive more specialized oncology care as a result, and physicians will have more opportunity to advance in their careers.
The merged company will be in a better position to draw in patients from the area looking for affordable, high-quality care, enhancing Singapore’s standing as a medical tourism destination.
The combined company may think about listing on the Singapore exchange in the future as part of its long-term growth plan.
“This partnership is an extraordinary opportunity to improve care for cancer patients,
“The combined entity opens up opportunities for collaboration within a bigger oncology network,” said Dr. Ang Peng Tiam, Chief Executive Officer of TalkMed.
According to him, this means improved access to innovative treatments and a wider range of deep medical expertise.
“Taken together, this will truly transform the way we treat patients, giving them more options and improved outcomes, in line with Singapore’s ambition as a center of excellence in oncology,” he added.
According to Simon Chuk, director of the offeror, a special purpose company created for this acquisition and indirectly owned by Tamarind Health, the company is dedicated to helping healthcare institutions that are significantly addressing urgent patient needs and oncology care gaps.
“TalkMed has established itself as one of the leaders in medical oncology with an exceptional team of medical professionals and we are excited to be partnering with them,” he added.
65 Equity Partners, a Temasek-backed international investment group with its headquarters in Singapore, will purchase shares in Tamarind Health as part of the deal through its Local Enterprise Fund, which aims to create regional champions based in Singapore.
“We are pleased to support the proposed creation of a premier pan-Asian healthcare provider with high growth potential,
“This aligns with our mandate of investing in Singapore headquartered businesses with regional aspirations,” said Tan Chong Lee, Chief Executive Officer of 65 Equity Partners.
