Establishment of Foundation Healthcare Holdings (FHH)

Singapore, Singapore, March 15, 2023 --(PR.com)-- Foundation Healthcare Holdings Pte. Ltd. (“FHH”) announced today that it has established a platform consisting of over 50 private specialists across 13 medical specialties in Singapore and a health technology company, Smarter Health Pte. Ltd. (“SH”). This will form the nucleus for a new regional private healthcare platform. The combined entity has revenue of over S$130 million.

Supported with investments from SeaTown Private Capital Master Fund, the private equity fund managed by SeaTown Holdings International Pte. Ltd. (“SeaTown”), FHH is a ground-up, purpose-built ecosystem platform that aims to deliver value-based healthcare by making private healthcare accessible, affordable and accountable.

Together with the founding specialists and Seatown, FHH will accelerate the expansion of its specialty offerings and extend into ambulatory centres and other synergistic ancillary healthcare services in Singapore and the region. The entire ecosystem will be underpinned by a data-driven technology platform that is designed to improve coordination between key stakeholders, especially insurers and other third-party payors. This will vastly enhance the patient experience and reduce waste.

The FHH management team will be helmed by Mr Liaw Yit Ming and Dr Lee Hong Huei – former senior executives in IHH Healthcare (SGX: Q0F) and veterans in the healthcare industry.

“I believe we have taken an important first step in establishing a new foundation for private healthcare. There are endless opportunities if stakeholders work together to focus on delivering value for patients. Our vision is to leverage this platform to build a sustainable private healthcare system that is accessible, affordable and accountable.

"I am personally humbled and extremely grateful that our simple vision has received not just the trust and support of Seatown but more importantly, our founding group of doctors.” –Mr Liaw Yit Ming, Chief Executive Officer, FHH.

“FHH’s vision to make healthcare accessible, affordable and accountable resonates strongly with us. We are very privileged to be able to partner with such an exceptional founding team and group of dedicated specialist doctors to achieve this goal. The traction we have achieved and the continued interest in FHH is testament that this vision is shared by many practitioners in the industry. We look forward to partnering with them to drive innovation and improve healthcare outcomes for patients in Singapore and beyond.”–Dickson Loo, Managing Director, Seatown.

About Foundation Healthcare Holdings Pte. Ltd. (“FHH”)

FHH is a ground-up, purpose-built, technology-enabled healthcare platform headquartered in Singapore with its sights set on the region. The vision is to design, build and operate a healthcare platform focused on creating value for patients by collaborating with all stakeholders in the healthcare ecosystem.

About SeaTown Holdings International Pte. Ltd. (“SeaTown”)

SeaTown is a Singapore-based investment manager focused on alternative, absolute return strategies. ST manages multi-asset and public equity strategies through open-end funds as well as private investments strategies in closed-end funds. SeaTown also offers investment solutions calibrated to clients’ unique investment needs and objectives. SeaTown is a wholly owned subsidiary of Seviora Holdings Pte. Ltd. and indirectly owned by Temasek Holdings (Private) Limited.

About Smarter Health Pte Ltd (“SH”)

SH provides a trusted infrastructure for data exchange between key stakeholders of the healthcare ecosystem. Our “Simplify, Standardise and Systemise” approach supports the delivery and payment for healthcare services in an efficient and effective manner.