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HEALTHCARE, TRANSPORT & LOGISTICS | Staff Reporter, Singapore
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Daily Briefing: Logistics properties developer GLP plans US$3b IPO; Healthtech startup Lifetrack Medical Systems nabs $5.2m in Series A funding

And LTA awarded contracts for 100 three-door double-deck buses.

From Bloomberg:

GLP Pte, the Singapore-based developer of logistics properties, is planning an initial public offering for its U.S. operations that could raise about US$3b, people with knowledge of the matter said.

The warehouse owner is working with Citigroup Inc. and Goldman Sachs Group Inc. on the planned share sale in New York, according to the people. It aims to list the U.S. business as soon as this year, the people said, asking not to be identified because the information is private.

GLP may seek to value the operations at more than US$20b, one of the people said. It has confidentially filed with securities regulators for the planned offering, according to the person.

Much of GLP’s U.S. business stems from a 2014 deal to acquire IndCor Properties Inc. from Blackstone Group Inc. for US$8.1b.

Read more here.

From DealStreetAsia:

Singapore-based healthtech startup, Lifetrack Medical Systems, has secured $5.2m in Series A funding to develop its medical imaging technology and scale its growth.

The round was led by UOB Venture Management (UOBVM) through its Asia Impact Investment Fund (AIIF). Other participating investors include Philips and Kickstart Ventures, a corporate venture capital firm from the Philippines.

Lifetrack’s platform, LifeSysTM, rapidly transmits and aggregates medical images from multiple sites. This is possible even from rural areas, allowing Lifetrack to provide access to diagnostic imaging in less developed countries.

Read more here.

From ChannelNewsAsia:

The Land Transport Authority (LTA) has awarded the tender to acquire 100 three-door double-deck buses to two tenderers, it announced in a news release on Thursday (Apr 25).

“The buses will arrive in Singapore in batches and be deployed on the road starting from next year,” LTA said.

Alexander Dennis (Singapore) Services Pte Ltd and ST Engineering Land Systems Ltd were awarded contracts for fifty Euro 6 diesel buses each, for a sum of about $34m and $30m respectively.

LTA said both companies are existing bus suppliers, accounting for about 4% and 23% of Singapore’s bus fleet, respectively.

Read more here.

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