Novena Global Lifecare (“Company,” “NGL”), one of Asia’s largest integrated medical and aesthetical businesses, has acquired two days of surgical care centers operating at the Camden Medical Center and the Paragon Medical Center in Singapore, with more than 250 clinics in 20 major cities, primarily within the Asia Pacific region.
With 55 percent interest in centers, NGL is the larger single shareholder with a transaction size of up to 20 million dollars. The Paragon Medical Centre, which was opened in 2016, was the Aptus Surgery Center (“Aptus”) and the Camden Medical Center, which was the Novaptus Surgery Centre, was in operation in 2019. Each of the four state-of-the-art cable-free operating theaters is equipped with various operations including plastic, dental and eye procedures. Patients can also perform eye, laparoscopic surgery and endoscopic diagnostics.
“We are very pleased with this acquisition because our day-operation centers complement the medical services and the esthetic service range,” said Terence Loh , co-founder of DORR Group which is owned by NGL.
OPCs are also known as centers of ambulatory surgery, but they are fitted on the same day to perform sedation or anesthesia procedures. In order to complement the hospital system, the centers alleviate demand for hospital beds and are also a more economically viable service for those who undergo operations without having to stay overnight in a hospital.
“This purchase will be a value-added proposition for the N G L Group to broaden its health services sector in Singapore,” said Lim Cheok Peng, N G L senior medical advisor and former Managing Director and Chief Executive of Parkway Holdings Limited: “The NGL Group is seeking to expand its health services business in Singapore to replicate similar state-of-the-art facilities across Asia.”