SWC Medical Group eyes SGX listing in 2020

An initial public offering (IPO) is in the works for the Singapore Women's & Children's Medical Group (SWC Medical Group).

The company, which specialises in obstetrics and gynaecology and paediatrics, lodged a preliminary offer document with the Singapore Exchange on Monday. It is seeking to list its shares on Catalist this year.

SWC Medical Group, whose 15 specialists work in 10 clinics across the island, intends to open specialised facilities for women and children, including a fertility centre, a children's behavioural and development clinic, and one to treat women's cancer, according to its preliminary offer document.

Other plans include expanding into markets such as Vietnam, Myanmar, Indonesia and Malaysia, and providing management and consultation services for the healthcare industry.

Its unaudited financial statements show a net profit for the six months ended June 30 last year of $7 million, up 11 per cent from $6.3 million a year earlier. Earnings per share was 0.83 cent for the six months, up from 0.75 cent.

Revenue surged 46 per cent to $19.2 million in the first half of last year, from $13.1 million in 2018.

SWC Medical Group's wholly owned subsidiaries include Singapore Healthbridge, Singapore Women's Medical Group, Singapore Children's Medical Group, CH Koh Clinic for Women and the Paediatric Allergy Immunology Rheumatology Centre.

Mr Allan Yeo Hwee Tiong is executive chairman and group chief executive. He is also an independent director of mainboard-listed Cordlife Group and former group CEO of Thomson Medical Centre.

SWC Medical Group has no controlling shareholders, but has nine substantial investors, all of whom are doctors, with stakes ranging from 6.5 per cent to 10.5 per cent.

The firm intends to open specialised facilities for women and children.

UOB Kay Hian will be the sponsor, issue manager, underwriter and placement agent for the IPO.

BUSINESS TIMES

A version of this article appeared in the print edition of The Straits Times on January 01, 2020, with the headline 'SWC Medical Group eyes SGX listing in 2020'. Print Edition | Subscribe