Meta Health sues former executives over Gainhealth deal

Six defendants were named, including founder Chua Kheng Choon.

Meta Health Limited has filed a lawsuit in the High Court of Singapore against several former directors, executives, and a business associate, alleging breaches of duty and unlawful conspiracy linked to its past acquisition of Gainhealth Pte. Ltd.

According to a company announcement, the originating claim was lodged on 10 September, against six defendants: Chua Kheng Choon, the founder and former executive chairman and CEO (1998–2022); Koh Gim Hoe, an independent director from 2016 to 2024; Leow Siew Yon, an independent director from 2021 to 2022; Kelvin Lee Ming Hui, an independent director from 2021 to 2024; Mak Peng Leong Philip, the chief financial officer and joint company secretary from 2015 to 2022; and Hong Shieh Yung Travis, a Singaporean businessman and associate of Chua who has not held a formal role in the company.

Meta Health alleges that Chua breached contractual obligations, whilst Chua and four former directors failed in their statutory and common law duties.

The company further claims that Hong dishonestly assisted in these breaches and knowingly received company assets. The defendants are also accused of conspiring against Meta Health’s interests.

The healthcare firm, represented by Rajah & Tann Singapore LLP, is seeking approximately $7.3m in damages, along with equitable compensation and other remedies the court may determine.

Meta Health said it has suffered financial losses and reputational damage from the Gainhealth acquisition.

The company added that it is unable at this stage to assess the financial impact of the lawsuit on its current fiscal year ending 31 December 2025.

The board pledged to update shareholders as developments arise and urged investors to exercise caution when trading its securities.

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