Livingstone Health shares jump on news of it leading Sinovac vaccine procurement

A subsidiary of Livingstone Health Holdings, Livingstone Health International, has been appointed by the Ministry of Health (MOH) to lead the procurement of Sinovac Biotech Covid-19 vaccines on behalf of private healthcare institutions in Singapore.

Livingstone Health shares jumped yesterday on the news, with the Catalist-listed stock rising 1.8 cents, or 10.7 per cent, to 18.6 cents as at 9.44am.

The healthcare provider will import and supply the vaccines via the special access route set up by the Health Sciences Authority and MOH, it said in a filing yesterday.

The vaccines will be available from Sept 24 at the four clinics under the group's primary healthcare arm Phoenix Medical Group, and also at 13 other primary care clinics islandwide.

Livingstone Health said it is unable to quantify the financial effects under the initiative, noting that the take-up rate for the vaccine "cannot be reasonably determined as at the date of this announcement".

It added that it is exploring other opportunities with Sinovac Biotech. In addition, the group said its non-executive chairman Teh Wing Kwan, chief executive Wilson Tay and chief business officer Dax Ng will buy and donate up to 500 Sinovac doses, "in line with the nation's call to encourage and boost the vaccination take-up rate among seniors and the financially challenged".

These vaccines will be given to the first 250 seniors above 60 years of age who register through Phoenix Medical.

Shares of Livingstone Health closed at 17.9 cents yesterday, up 1.1 cents or 6.5 per cent.

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