Singapore's largest private clinic chain Healthway Medical Corporation (HMC) has formed a new medical advisory board which will be helmed by Speaker of Parliament and MP for Marine Parade GRC Tan Chuan-Jin.
Also appointed to the board are Jalan Besar GRC MP Lily Neo and Professor Bernard Yeung, dean and Stephen Riady distinguished professor of finance, strategy and policy at the National University of Singapore Business School. They have been appointed for a one-year term. Such roles at a listed company would typically draw a fee.
A Healthway spokesman said the advisory board would give insights on key market trends and other developments in the medical field which might affect the company or its operations.
Mr Tan said: "Among the biggest public policy challenges any government will face in the future is the issue of sustainable healthcare, given the way demographic patterns are unfolding. The private sector can play an important role in addressing this."
Mr Tan's other private sector roles include being deputy chairman of Mandai Park Holdings and senior adviser to Temasek.
He assumed both roles last November. He resigned from his post as Minister for Social and Family Development and was voted in as Speaker of Parliament in September last year.
Healthway's establishment of the advisory board is in line with its strategy of having a patient-centric and technology-enabled approach towards healthcare, the company said.
In November, HMC announced it was tying up with South Korea's SK Telecom, the Seoul National University Bundang Hospital and HealthConnect to explore using the latest information and communications technologies in healthcare applications.
Non-executive director of HMC Stephen Riady said he was confident the board's guidance would enable the company to be a leading healthcare provider, and also contribute meaningfully to the community.
Last year, an entity linked to Indonesian conglomerate Lippo Group, which is controlled by the Riady family, made a successful $103-million takeover offer for HMC.
For the financial year ended Dec 31, 2017, HMC reported a net loss of $34.8 million, compared with $44.1 million a year ago.
Shares in Catalist-listed HMC closed at five cents yesterday, edging up 0.1 cent.