AsiaMedic to expand diagnostic imaging services with new centre in Novena, Singapore

New Delhi: AsiaMedic Limited, listed on SGX Catalist, is expanding its footprint in the medical diagnostics field with a new venture in partnership with Sunway Equity Holdings Pte. Ltd. (SEH).

The collaboration involves setting up a diagnostic imaging center in Novena, Singapore, with the aim of providing advanced medical imaging services. This move comes on the heels of AsiaMedic’s remarkable revenue growth, reaching a record high in FY2023, and underscores its commitment to meeting the growing demand for healthcare services in the region.

The planned facility, spanning close to 6,000 square feet at Royal Square in Novena, is slated to commence operations by November 2024. Operated by AsiaMedic Sunway Pte. Ltd., a joint venture between AMC Healthcare Pte. Ltd. (a subsidiary of AsiaMedic) and SEH, the center will offer a wide range of diagnostic imaging services, including computed tomography (CT) scans and magnetic resonance imaging (MRI) scans, utilizing cutting-edge equipment.

Arifin Kwek, CEO of AsiaMedic Limited, highlighted the strategic significance of this partnership, emphasizing “The partnership with Sunway presents an opportunity for expansion of the Group’s diagnostic imaging business into Novena, which is a significant healthcare and medical services hub in Singapore. This will greatly complement the Group’s existing integrated medical centre at Orchard Road and enable us to serve more patients with greater convenience.”

The new center will replicate the advanced imaging services offered at AsiaMedic’s flagship center, which includes state-of-the-art facilities such as the SIGNA™ Hero 3T MRI scanner. Once operational, it is anticipated to nearly double the diagnostic imaging capacity of the AsiaMedic Group, further solidifying its position as a leader in the field.

In FY2023, diagnostic imaging and radiology services emerged as a significant revenue contributor for the AsiaMedic Group, with a notable 72% increase in revenue. The surge in demand for these services reflects the growing reliance on diagnostic imaging in the healthcare ecosystem, with AsiaMedic positioned at the forefront of providing innovative and high-quality solutions.

Sarena Cheah, Executive Director of Sunway Berhad, expressed confidence in the partnership, citing “We are confident in the long-term prospects of our partnership as AsiaMedic has a trusted track record and aptitude in providing tailored offerings to its patients. In addition, the new diagnostic imaging centre’s strategic location and close proximity to other healthcare providers will position us as the preferred choice for patients. This partnership will offer strategic benefits to Sunway and enhance our existing healthcare ecosystem.”

AsiaMedic’s commitment to advancing healthcare technology is evident in its recent installation of the Revolution™ Apex Elite CT scanner, making it the first in Singapore to adopt this cutting-edge technology. This investment underscores the company’s dedication to enhancing the patient experience and maintaining its position as a preferred provider of diagnostic imaging services.

Looking ahead, AsiaMedic remains focused on exploring opportunities for expansion and sustainable growth in the healthcare sector. With the Novena diagnostic imaging center poised to become a key player in Singapore’s healthcare landscape, AsiaMedic is poised to continue its trajectory of success in delivering innovative healthcare solutions to patients across the region.