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HEALTHCARE | Staff Reporter, Singapore

Rowsley buys Thomson Medical for $1.6b

Thomson Medical wants to go beyond core obstetrics and gynaecology services into a wider health network.

Rowsley Ltd signed an acquisition agreement to buy 100% of Sasteria Pte Ltd (Sasteria), the owner of Thomson Medical Pte Ltd (Thomson Medical) and controlling shareholder of TMC Life Sciences Berhad (TMCLS) for $1.6b.

According to a press release, Rowsley will acquire a 100% stake in Thomson Medical, Singapore’s largest private provider of healthcare services for women and children and a 70.36% stake in TMCLS, a Bursa Malaysia-listed healthcare company with a multidisciplinary tertiary hospital and leading provider of in-vitro fertilisation (IVF) services in Malaysia.

Rowsley also intends to change its name to Thomson Medical Group Limited.

Payments will be made through 21.3 billion new Rowsley shares at the issue price of 0.075 cents per share.

Rowsley will also acquire 597,319,140 TMCLS Warrants in cash, each at a price equal to the volume-weighted average price of TMCLS Warrants traded on Bursa Malaysia.

Both Thomson Medical and TMCLS have plans to capitalise on the increasing demand for healthcare services in the region. Thomson Medical will continue to grow beyond its current core obstetrics and gynaecology services into an integrated country-wide healthcare network by expanding its current service offerings and opening more new specialist clinics.

In Malaysia, TMCLS has plans to make its tertiary hospital (Tropicana Medical Centre) at Kota Damansara one of the largest integrated healthcare campuses in the Klang Valley by tripling its current bed capacity.

When the new expansion wing is completed and fully operational, the hospital will have a capacity of up to 600 beds, offering comprehensive tertiary healthcare services.

In addition, TMCLS has plans to expand in Johor Bahru through the proposed Thomson Iskandar Medical Hub. 

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