Daily Briefing: PM Lee says Singapore's healthcare and education still needs to evolve; VC firm HealthXCapital kicks off US$25m healthcare fund

And three office floors in The Octagon up for sale at $45.5m.

From Channel News Asia:

After its podium finish of topping the Human Capital Index which delved into healthcare and education indicators of countries, prime minister Lee Hsien Loong said that Singapore still need to to continually evolve its policies geared for the two sectors.

Lee highlighted that whilst Singapore has a good education system, there is still scope to improve pre-school levels.

“Children come at the age of six to school at quite different levels, some able to read, some able to write, but some barely literate or able to recognise letters of the alphabet," the prime minister said.

Meanwhile for healthcare, Lee said Singapore is looking to boost step-down care facilities, as some of the country’s older generation may be unwell, but they do not require intensive medical treatment.

“We've got old folks in their 70s and 80s who are learning to dance ballet and doing not badly, and they're much healthier and happier for it," he said.

Read more here.

From Deal Street Asia:

HealthXCapital will launch a $34.42m (US$25m) fund eyeing early-stage investments in digital health, diagnostics, devices and artificial intelligence, focusing on companies with origins in and an impact on Southeast Asia and India.

The fund aims to invest in 10 to 12 companies, with ticket sizes ranging from US$500,000 to US$3m. HealthXCapital did not share when it expects to close the fund but said its tenure will be 5-7 years.

There is a faster emergence of startups out here in healthcare which has been leading towards a critical mass. I think this is the right time to cultivate that and harness that opportunity to give a few of those startups a chance to become really impactful and successful commercially,” said HealthXCapital partner Seemant Jauhari.

Read more here.

From iCompare Loan:

Three freehold strata office floors at The Octagon in Cecil Street is up for sale via tender at $45.5m, Cushman & Wakefield (C&W) revealed.

Each of the strata office floor has a plate size of approximately 6,189 sq ft, ideal for mid-range space requirements. The Octagon has two levels of basement car parks for season parking.

The Octagon is a 25-storey office building sitting on a prime freehold plot in the heart of the Central Business District. Strategically located at the junction of Boon Tat Street and Cecil Street within the Raffles Place office micro market, the site is within walking distance to the Raffles Place and Telok Ayer MRT stations.

The tender exercise will close on 1 November 2018 at 3 pm.

Read more here.

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