SINGAPORE - Precision engineering and technology group Accuron Technologies, a wholly owned subsidiary of Temasek Holdings, announced on Thursday (Jan 31) that it will spin out its medical device business to be directly owned by Temasek.
The Accuron MedTech Group (Accuron MedTech), said to be South-east Asia's largest medical device business, will be established as a leading vertically integrated urology business.
Accuron Technologies said that the move will allow Accuron MedTech's management team to better focus on global medtech growth and investment opportunities. It is anticipated that the process will be completed by March 2019.
Philip Yeo, chairman of Accuron Technologies Limited, said: "Accuron MedTech has been managed as an independent division of Accuron Technologies for some time now. The spin out will enable Accuron MedTech to be more agile in managing its operations, putting it on a stronger platform for sustained growth and technology commercialisation."
He added that this will also allow Accuron Technologies to focus its resources to pursue opportunities in the growing aerospace and industrial businesses.