Don Agro exits agriculture following UpHealth rebrand

Acquisitions delivered S$2.8m net profit in FY 2024.

Don Agro International Limited said shareholders approved the acquisition of healthcare assets and the proposed change of the company’s name to UpHealth Group Limited at an extraordinary general meeting held on 28 Jan.

The approvals allow the group to complete its exit from agriculture and reposition as a healthcare-focused business, according to a company release.

The approved acquisitions include Euroonco, which operates oncology clinics across three cities, and Uni Medica, a multifunctional medical facility with outpatient and inpatient services.

The group said the combined assets currently provide more than 90 inpatient beds, with plans to expand Uni Medica’s inpatient capacity to up to 72 beds over time under assumptions outlined in its December circular.

The healthcare assets generated a net profit of $2.8m in FY 2024, compared with $1.9m in FY 2023 and a net loss of S$1.2m in FY 2022, reflecting improving profitability, the company said.

Revenue increased to $39.4m in FY 2024 from $33.3m in FY2023, while revenue for the six months ended 30 June 2025 rose 35.9% YoY to $26.0m.

Don Agro said Euroonco’s clinic network served 11,019 patients in 2024, representing year-on-year growth of 23.1%, and expects demand for specialised healthcare services to continue supporting earnings.

The group said it will evaluate further healthcare opportunities following completion of the acquisitions, subject to regulatory approvals and funding considerations.

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