SGX-listed engineering firm acquires Singapore wellness platform

GainHealth, a Singapore-based wellness platform, said that about 85% of the company’s share capital has been sold to Metal Component Engineering for S$4.25 million (US$3.1 million).

Photo credit: GainHealth

The acquisition will help GainHealth expand its reach within the pharmaceutical industry’s digital ecosystem, the company said in a statement. It added the deal will improve GainHealth’s efficiency with enhanced business operations, better risk management, and reduced expenses.

GainHealth offers products that have been reviewed by clinicians for use as over-the-counter and prescription medication. The wellness platform’s business comprises a physical healthcare unit, which is operated through its general practitioner clinic and in-house pharmacy. The company also operates an ecommerce arm that manages a digital platform and other self-branded ecommerce portals.

In addition to the stake sale, GainHealth has also announced a tie-up with MedTel, a healthtech firm which provides care providers and patients with personalized heath data insights. GainHealth will integrate MedTel’s remote patient monitoring feature on its platform to help patients manage chronic conditions.

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“Epharmacy of the future is not about replacing the current retail pharmacy model alone and will be a step change with a data-driven care approach,” said Francis Puno, head of partnerships at GainHealth. “We should be able to demonstrate better outcomes with the control of risk factors like blood pressure and long term glucose control with all this real world data that will be gathered.”

Currency converted from US dollar to Singapore dollar: US$1 = S$1.35.