Staff Reporter
,
Singapore
Photo from Unsplash by Markus Frieauff.
AddVita will use the funds to enact its ‘buy-and-build’ strategy.
Temasek-backed SeaTown Holdings International invested $115m in Singapore-headquartered healthcare and life sciences firm AddVita.
AddVita sells medical devices and diagnostic equipment to hospitals, clinics, and medical professionals. It is also a distributor of life sciences equipment, instruments, and consumables essential for medical and research labs.
According to SeaTown, the funds will be used by AddVita to acquire niche businesses in Asia that specialise in distributing high-quality medical, laboratory and pharmaceutical products and services.
“The healthcare distribution sector is resilient, with robust secular growth tailwinds,” said Dickson Loo, Managing Director of Private Equity at SeaTown.
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