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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