Singapore's Clearbridge Health seeks to raise S$24.6 mln via Catalist listing

Clearbridge Health plans to raise about S$24.6 million through its initial public offering on the Singapore Exchange (SGX) Catalist Board to build a healthcare business focused on precision medicine services.

Singapore on alert against zika virus
A health agent uses a test kit. Reuters

Clearbridge Health plans to raise about S$24.6 million through its initial public offering on the Singapore Exchange (SGX) Catalist Board to build a healthcare business focused on precision medicine services.

The firm plans to offer 88 million shares, representing 18.3 percent of its enlarged share capital, priced at 28 cents each through the flotation.

It plans to start trading on the Catalist board of the Singapore Exchange on December 18.

The company would have a market cap of S$134.7 million after listing.

Clearbridge, the medtech investor formerly known as Clearbridge Accelerator, is headed by Jeremy Yee, the former CEO of Singapore-listed Cordlife Group.

It focuses on laboratory testing services, medical clinics, and strategic equity participation in precision medical technology (medtech) companies.

Nearly S$11 million of the IPO proceeds will be used to expand the medical clinics business while another S$3 million will be used to expand the group's laboratory testing services business and S$7.5 million set aside for working capital.

Clearbridge Health aims to leverage Singapore's status as a medical tourism destination as well as tap the growing demand for healthcare in the rest of Southeast Asia.

Singapore on alert against zika virus
A health agent uses a test kit. Reuters

Clearbridge Health plans to raise about S$24.6 million through its initial public offering on the Singapore Exchange (SGX) Catalist Board to build a healthcare business focused on precision medicine services.

The firm plans to offer 88 million shares, representing 18.3 percent of its enlarged share capital, priced at 28 cents each through the flotation.

It plans to start trading on the Catalist board of the Singapore Exchange on December 18.

The company would have a market cap of S$134.7 million after listing.

Clearbridge, the medtech investor formerly known as Clearbridge Accelerator, is headed by Jeremy Yee, the former CEO of Singapore-listed Cordlife Group.

It focuses on laboratory testing services, medical clinics, and strategic equity participation in precision medical technology (medtech) companies.

Nearly S$11 million of the IPO proceeds will be used to expand the medical clinics business while another S$3 million will be used to expand the group's laboratory testing services business and S$7.5 million set aside for working capital.

Clearbridge Health aims to leverage Singapore's status as a medical tourism destination as well as tap the growing demand for healthcare in the rest of Southeast Asia.

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