Singapore personalised health and nutrition outfit reveals $150m IPO plan

By Cheryl Tay

- Last updated on GMT

The group plans to develop its DNA testing-based predictive healthcare. ©iStock
The group plans to develop its DNA testing-based predictive healthcare. ©iStock

Related tags South korea Medicine

Singapore-based personalised and preventative health firm Novena Global Lifecare Group is seeking to raise US$150m through an IPO in Taiwan.

The IPO is part of a plan to expand across the region through acquisitions and organic growth, with Yuanta Securities handling the deal.

The Singapore-based integrated medical healthcare group is one of the largest of its kind in Asia, with over 100 clinics in Singapore, China, Hong Kong, India, Indonesia, Malaysia and Taiwan. At present, its revenue stands at US$50m, with a net profit margin of 20%.

It specialises in three main areas: predictive and personalised healthcare via DNA testing; preventative healthcare through screenings, supplements and nutrition; and aesthetic medical services.

Novena is planning to use its partnership with Taiwanese company Health GeneTech to further develop its predictive care via DNA testing. To this end, it will also collaborate with top universities and regional laboratories in Taiwan, Hong Kong, India and South Korea to create a comprehensive database of Asian genetics.

It is also currently discussing the possible development of a maternity care clinic with a Taiwanese firm, in light of what it believes is a growing market for post-natal and anti-ageing healthcare in Singapore.

Additionally, both companies want to convert its Novena Gardens base into a tertiary medical centre, which will include an anti-ageing centre, as well as medical serviced apartments for patients.

Scalable model

Novena has already acquired a majority stake in Taiwanese health screening services provider Hexin, and the group has since taken over management of the services in Hexin’s three hospitals.

The group’s co-founder and executive chairman Nelson Loh said, “We believe we have a very scalable business model to support our growth plans. Going by trends in the more developed markets of Singapore, Taiwan and South Korea, we see huge potential in China and some of the emerging economies for healthcare services that help people to stay good on the inside and look great on the outside.

“Our chain of clinics has a strong track record for treating Asian clients, and our integrated business model supports our services and products through R&D, and through manufacturing of specialised high quality machines.”

At the same time, Novena is looking to grow its portfolio with complementary services such as body and hair care.

The group intends to launch the IPO before the end of September this year.

Related news

Show more

Related products

show more

Krill oil supports six key areas of healthy aging

Krill oil supports six key areas of healthy aging

Content provided by Aker BioMarine | 26-Feb-2024 | White Paper

The global population is getting older—according to WHO by 2050 the world’s population over 60 years will double and the population above 80 years will...

Unlock the business potential of the protein trend

Unlock the business potential of the protein trend

Content provided by Valio | 24-Jan-2024 | White Paper

Read our white paper to learn how to overcome taste and texture challenges in protein products — and how to commercialise the protein trend by making delicious...

Follow us

Products

View more

Webinars

Nutra Champions Podcast

Nutra Champions Podcast