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Aditya Hadi Pratama · · 1 min readSingaporean healthcare startup to secure $60m investment from IFC, Mitsui
MiCare, a Singapore-based startup that helps insurance companies and corporates manage the medical claims of policyholders, announced that it will get an investment of US$60 million.
More funding details
- Lead investor: International Finance Corporation (IFC) and Mitsui
- Stage: Unspecified
More company updates
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Asian healthcare services group Zuellig Pharma will remain as MiCare’s largest shareholder after this investment.
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The managed care organization (MCO) will use the fresh funds to expanding to Indonesia and Vietnam as well as to set up a new regional headquarters in Singapore.
- Last December, MiCare received US$30 million in funding from IFC.
- MiCare currently processes medical claims worth US$400 million annually. It has more than 13 million members, representing insurance companies and corporate clients in Malaysia, Thailand, and the Philippines. The company serves 45 insurers and 6,500 corporate clients in the region.
- MiCare was founded in 2006 in Malaysia as a third-party administrator of medical claims with just 200 members.
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Collin Furtado and Eileen C. Ang
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