SINGAPORE - Medical sector incubator The Trendlines Group has inked its first partnership with a local healthcare group.
The initiative aims to build a pipeline of start-ups and solutions for the global market in the field of medical technology or medtech.
The MOU (memorandum of understanding) signed with National Healthcare Group (NHG) on Thursday involves co-developing solutions for unmet clinical needs.
It is Catalist-listed Trendlines Group's first collaboration with a healthcare institution here.
NHG will identify key problems and unmet clinical needs while Trendlines Singapore and its affiliated companies will develop solutions. Both parties will jointly refine these solutions through clinical validation within NHG's infrastructure.
Trendlines said: "It is envisaged that start-up companies may be established in Singapore and incubated by Trendlines Singapore to develop the solutions into commercial products for the global market."
Trendlines Singapore, which started in February, is the Singapore-based medtech incubator arm of Trendlines, the Israel-based group that invests in and nurtures start-ups in medical and agricultural technology.
Mr Eric Loh, Trendlines Singapore's chief executive, said the new start-ups could tap existing solutions developed by Trendlines' portfolio companies and repurpose them for the targeted problems.
NHG and Trendlines Singapore have already identified three areas of collaboration. These hope to improve: the condition of inpatients with fragile skin; monitoring of vital signs; and methods for the safe delivery of nutrition to patients.
Trendlines chief executive and chairman Todd Dollinger said "work has already begun" and an announcement on one of the projects will be made soon.
"We are confident that combining our expertise with the strong clinical standing of the hospitals and physicians of NHG, we will see successful companies and medical solutions developed, not just to address the local market, but also the global landscape facing similar medical concerns," he added.
Mr Thomas Lew, director of the Centre for Medical Technologies and Innovations at NHG, added that the new solutions must be affordable and accessible so as to build a "sustainable healthcare system".
Mr Loh said that Trendlines Singapore would not rule out partnerships with other healthcare groups or institutes of higher learning.
As a start-up incubator, Trendlines derives returns on its investments in two ways: an exit by any of its portfolio companies ( a public listing or trade sale); or the commercialisation of products developed by its portfolio companies.
Trendlines closed up 0.6 cents of 3.97 per cent at $0.157 on Thursday.