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Templewater Finalizes Definitive Agreements for Acquiring OncoCare Medical and Novena Heart Centre

Tuesday, October 24, 2023

Templewater, a distinguished private equity firm with a focus on mid-market control buyout opportunities throughout the Asia Pacific region, is pleased to announce the finalization of definitive agreements for the acquisition of OncoCare Medical ("OncoCare") and Novena Heart Centre ("NHC"), a respected healthcare services company operating across the Pan-APAC territory. Templewater is set to acquire OncoCare Medical and Novena Heart Centre, both renowned private clinic groups in Singapore, specializing in oncology and cardiology. NHC operates three clinics in Singapore and boasts a team of five cardiologists and a visiting surgeon.

This strategic move marks a significant milestone for Templewater, marking our entry into the healthcare sector and our second investment in Southeast Asia. We are committed to deploying capital into high-quality assets within the region and recognize substantial opportunities for value creation. We extend our appreciation to the dedicated medical teams at OncoCare and NHC for their unwavering support and look forward to collaborating with them to further expand and enhance the success of these esteemed clinic groups.

Following an extensive eighteen-month search and evaluation process in the healthcare services sector, we are pleased to have secured agreements with these leading market providers. We express our gratitude to the committed doctors for their diligence and dedication throughout the negotiation process. As active shareholders, this partnership has enabled us to achieve growth, even in the challenging circumstances when the Covid pandemic affected the country.