Quadria Capital acquires stake in leading Singapore multi-specialty medical group, MWH holdings

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Quadria’s investment and partnership to spearhead MWH’s regional expansion by bringing high quality and affordable multi-specialty care to the region with huge unmet demand.

SINGAPORE / NEW DELHI, 11 July 2017 – Quadria Capital, Asia’s leading healthcare investment firm, has acquired a significant stake in MWH Holdings Pte. Ltd., the holding company for the Singapore Heart, Stroke and Cancer Centre. This marks Quadria’s sixth investment from its third investment vehicle, Quadria Capital Fund L.P.

MWH is Singapore’s leading multi-specialty care group founded by Ms Wendy Huang and supported by a team of internationally renowned specialists with core expertise in cardiology, ENT, gastroenterology, orthopaedics, urology and aesthetics, amongst others. The Company operates under four flagship brands:

  • Singapore Heart, Stroke and Cancer Centre- specialists centre focused on prevention, early diagnosis and treatment of heart disease, stroke and cancer. The centre also has extensive experience in CT imaging of the heart and is one of Asia’s pioneers in MR coronary imaging;
  • Singapore Medical Specialists Centre– multi-specialist centre offering a comprehensive range of specialty care services;
  • Singapore Centre for Medical Imaging– premier radiology centre offering a wide range of latest high-end diagnostics modalities; and
  • Face, Body and Skin Aesthetics Medical Center – leading aesthetics centre offering non-invasive, minimally invasive and surgical solutions. As part of expansion plans, it recently completed the acquisition of The Aesthetics Medical Clinic, adding an additional 3 branches to its aesthetics division.

MWH currently operates out of Paragon Medical Centre and will be expanding its operations this year with the establishment of a new centre located at Royal Square Novena, the latest mixed development in the Novena medical hub. With the opening of this new centre, MWH will more than double its operations domestically as it seeks to add more specialities and expand its diagnostics capacity.

Regionally, MWH seeks to partner with local hospital operators in Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Thailand and Vietnam, to provide advanced clinical services within their facilities. Quadria will support MWH’s regional growth ambitions through its existing hospital network and relationships for potential sites for MWH to offer its clinical services.

Dr. Michael Lim, Chief Medical Officer of MWH, said:

“Whilst we continue to serve the domestic and medical tourism segment out of Singapore, we see a significant opportunity regionally, particularly in the mid-tier segment where patients require something more affordable or for certain conditions where patients are unable to travel for treatment. By bringing our brand of multi-specialty care to these countries through partnerships with local operators, we are able to operate with a lower cost structure which translates to lower prices for local patients without comprising the quality of care delivered.”

South and Southeast Asia accounts for 30{3163b34706130b4e1cf64e8c1b910e982a843cab25723611cf66e26b48765851} of the world population and 40{3163b34706130b4e1cf64e8c1b910e982a843cab25723611cf66e26b48765851} of the global disease burden but yet only 5{3163b34706130b4e1cf64e8c1b910e982a843cab25723611cf66e26b48765851} of global healthcare spending[1]. In Southeast Asia, heart diseases alone cause an estimated two million deaths annually, or a quarter of all deaths caused by non-communicable diseases[2]. In addition, majority of Southeast Asian countries lack specialist doctors to treat the rising chronic disease burden. For example, there is one cardiologist per 330,000 people in Indonesia, per 70,000 people in the Philippines and per 50,000 people in Vietnam[3][4][5].

Mr Abrar Mir, Managing Partner and Co-founder of Quadria, said:

“We are very excited to partner with MWH, one of the leading specialty clinic practices in Singapore, with an established reputation for excellence. Together, we believe our partnership has the potential to bring high-quality specialty care, at an affordable price, across a region that continues to have significant unmet medical demand.”

About Quadria Capital

Quadria Capital is an independent healthcare focussed private equity firm with assets under management exceeding US$ 1.5 billion and investments in 18 companies across the Asia-Pacific region.

We focus on partnering with promising regional healthcare companies and, with our active investment strategy, help them grow into regional leaders while creating and delivering outstanding returns to our investors.

We complement our investment objective with a progressive investment philosophy of creating positive impact on environment, society and governance. Our aim is to improve lives by bringing better healthcare for all. This comes from our belief that positive investment returns and constructive social and financial impact must go hand-in-hand.

The Fund is sponsored by Abrar Mir and Dr Amit Varma and has operations based out of Singapore and New Delhi.

QUADRIA CAPITAL Press Release on 11 July 2018 https://www.quadriacapital.com/quadria-capital-acquires-stake-leading-singapore-multi-specialty-medical-group-mwh-holdings/

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