Financial intelligence for Asia's healthcare markets
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Malaysian medical glove manufacturer Supermax Group has acquired ophthalmologic medical equipment specialists AIME K.K. from International Consulting of Business Management Corporation for ¥30 million (US$264,886).
Beijing-based biomedical and genetic testing start-up GrandOmics has raised Rmb100 million (US$14 million) series A funding, led by Matrix Partners China and SAIF Partners.
Australian medical software developer Medadvisor has entered into an agreement with Pfizer Australia to provide a patient engagement programme for one of its leading medications.
Australian medical centre operator Primary Health Care has appointed Wesley Lawrence to the role of chief executive, pathology, following a three month external and internal executive search. He will report to Primary’s managing director and CEO Peter Gregg.
Shares in Paragon Care, a leading distributor and manufacturer supplying medical equipment to hospitals, rose 1.80% yesterday to A$0.85 (US$0.64), after it announced a supply agreement with Total Face Group to supply a range of Paragon’s products across the TFG network.
Wenzhou Kangning Hospital, the largest private psychiatric specialty care service provider in China, has agreed terms to manage Yiwu Psychiatric Health Centre in Yiwu, Zhejiang. The term of the entrustment service is 20 years.
Shares in PT Prodia Widyahusada traded up 1.5% on their debut yesterday. In late November, the country’s leading operator of clinical laboratories and better known as Prodia, priced its Rp1.52 trillion (US$113 million) IPO towards the bottom of the indicative range. It sold 187.5 million primary shares and 46.9 million secondary shares at Rp6,500 per share which is towards the bottom of Rp6,250-Rp8,000 indicative range.
Private equity firm General Atlantic has promoted Erin Chang to principal. She joined the firm in 2007 and concentrates on investments in healthcare as well as the retail and consumer sector. The appointment is effective as of 1 January.


Some good news at last for care home operators in Australia. Shares in Japara, Estia and Regis, which have seen their prices hammered this year, rocketed on Tuesday. Japara was up 11.9%, Regis jumped 13.2% and even Estia rose 11.5%.
In the first of an occasional series, Susann Roth, senior social development specialist, Asian Development Bank, explains why she thinks that healthcare needs to change.
Alexandre Oliveira, chief investment officer, IFC, explains why the primary and speciality care markets in Indonesia and the Philippines show promise.
Although the life sciences industry remains an attractive investment area, the healthcare sector has seen a decline in venture investments, particularly for early-stage investments, as pricing pressures, stringent regulations, rising development costs, reimbursement issues, and declining r&d productivity have proved significant barriers, says business intelligence provider GBI Research.
A lack of regulation and under-investment in management systems in healthcare gives Michael Griffiths, regional director of healthcare at Aon Singapore, pause for thought.
The SGX All Healthcare Index has generated a 6.4% total return in the year-to-date, and maintains a dividend yield of 5.9%, according to a new Market Update from the SGX. This compares with the MSCI AC Asia Pacific Asia ex-Japan Health Care Index, which has declined 2.4% in Singapore dollar terms over the same period, and maintains a yield of 1.2%.
Shares in Guangdong Kanghua Healthcare have traded like other recent healthcare names in Hong Kong and dropped on their debut. At lunchtime today they were down 7.9% at HK$10.68. Last week, the operator of the largest private hospital in China priced its HK$974.4 million (US$125.7 million) IPO at the bottom of the indicative range. It sold 84 million shares at HK$11.60 per share. Sole sponsor is CICC.
It has been a quiet year so far for healthcare listings on the SGX. Only one so far – Acromec – has made it past the line. But medical services group HC Surgical Specialists (HCSS) has made that a distant memory with an impressive debut on Catalist, Singapore’s junior board. Its share price doubled at the open.

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Markets in Asia were generally higher today after yesterday’s mixed message from the European Central Bank. The ECB said that it would both cut back its asset purchase programme and extend stimulus to December next year. “The tapering on its own can be seen as hawkish but the aspect of extension is dovish. The market seems to be digesting the news and Mario Draghi’s press conference, and taking it as negative for both the Euro and the bonds,” said Mihir Kapadia, CEO and founder of Sun Global Investments.

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