SPH buys nursing home operator for $164m

(From left) Mr Tony Mallek, Chief Financial Officer, SPH, Mr Mahanthran Krishnan, Group CFO and SVP, Business Development, OV, Ms Janice Wu, EVP, Corporate Development and Group Strategy & Analytics, SPH, Dr Chan Kay Fei, CEO, OV, Mr Anthony Tan, Dep
(From left) Mr Tony Mallek, Chief Financial Officer, SPH, Mr Mahanthran Krishnan, Group CFO and SVP, Business Development, OV, Ms Janice Wu, EVP, Corporate Development and Group Strategy & Analytics, SPH, Dr Chan Kay Fei, CEO, OV, Mr Anthony Tan, Deputy CEO, SPH; Ms Lyn Edel Yip, Deputy CEO and Chief of Nursing, OV, Ms Mable Chan, EVP, Human Resources, Administration and Times Properties, SPH and Ms Irene Lee, VP, Human Resources, SPH. PHOTO: ORANGE VALLEY HEALTHCARE PTE LTD

Singapore Press Holdings (SPH) is entering the healthcare sector with a $164 million purchase of nursing home operator Orange Valley Healthcare. Orange Valley runs five nursing homes islandwide and operates related services such as catering, physiotherapy and the supply of medical, nursing and healthcare equipment and consumables.

SPH chief executive Alan Chan said the investment gives the firm an opportunity to contribute to the healthcare needs of Singapore's ageing community.

One in four Singapore residents is expected to be aged above 65 by 2030, SPH noted.

This will lead to strong demand for elderly care services in the next decade. With a surge of single elderly people living alone, there will be rising demand for quality aged care services.

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A version of this article appeared in the print edition of The Straits Times on April 26, 2017, with the headline 'SPH buys nursing home operator for $164m'. Print Edition | Subscribe