Singapore, 26 October 2022 – Beyond Medical Group (“Beyond” or “the company”), a multi-disciplinary private specialist healthcare group in Singapore, has just completed a transaction that saw Altair Capital (“Altair”), a Southeast Asian-focused private equity firm, take up a significant minority stake in Beyond.
Established in 2013 by Mr Ivan Lee & Dr Lee Mun Heng, Beyond is a Healthcare Collective with quality patient-centric care and service excellence in mind, which believes in providing quality private healthcare and a seamless healthcare journey that goes beyond the provision of medical services — from booking the first appointment to post-procedure processes.
The company strives to stay at the forefront of medical advancements and is proud to be working with esteemed and reputable medical partners to deliver services and procedures of the highest quality.
Beyond believes that doctors should focus solely on clinical work and patient care delivery. Keeping with this philosophy, Beyond has built a strong team in the headquarters to support the medical team; it provides extensive assistance to all its clinics, underpinned by its experienced finance and accounts team, an in-house marketing department, human resource functions and regulatory support capabilities.
To date, Beyond has a portfolio of 12 doctors and 16 centers in Singapore across various specialties such as Cardiology, Gastroenterology, Orthopedics, Urology, and Plastic Surgery.
Beyond has been receiving various awards in recent years, including the Best Progressive Medical Group of the Year in the Asia-Pacific 2021 and the SME500 Singapore Award Winner 2022.
Ivan Lee, Chairman of Beyond Medical Group said: “The driving force behind this transaction is growth. This is an opportunity to create value by combining Beyond’s competitiveness and strengths in a growing demand healthcare services space with Altair’s knowledge and depth of expertise in strategic management within the Southeast Asia landscape. In light of Singapore’s growing demand and healthcare spending to support its healthcare transformation efforts and future-proof the healthcare system, Beyond’s expansion will offer a wider array of services for multiple specialist offerings for patients. We are excited to partner with Altair to create an extensive network of specialist care services in Singapore and are confident that the doctors and other associates will have expanded opportunities and improved economics as part of a larger organization.”
Elayne Soh, CEO of Beyond Medical Group said: “With a commitment to providing quality healthcare services, Beyond’s robust headquarters in Singapore has been consistently providing its corporate shared services and capabilities to support its specialist and their clinics. Doctors are now readily able to enjoy more time in their clinical involvement in areas of research, clinical trials, and precision medicine. This newly formed alliance with Altair will strengthen our presence in Singapore and our Group’s strategy as we engage the high-growth medical specialties. Furthermore, our partnership with Altair catalyses our next phase of growth within primary care, as well as other new initiatives tailored to elevate the patient experience in Singapore.”
Gary Ng, Partner at Altair Capital said: “At Altair Capital, we are constantly looking for new opportunities to invest into quality companies across Southeast Asia. With the growing demand and spending for healthcare services in Singapore, we see great potential for growth in Beyond and are delighted to partner them in their next stage of growth. Beyond has developed a strong platform and model of attracting specialist doctors under the leadership of Ivan and Elayne and we believe that Beyond can expand beyond specialist care services to become an integrated healthcare provider. We hope to leverage on our experiences of working with various companies to help Beyond create value for all stakeholders, as well as sharing best practices to bring Beyond to the next level.”
Tardis Capital advised the shareholders of Beyond for this transaction.