SingHealth received a $40 million donation from Ngee Ann Development for medical research and education to advance patient care yesterday.
The sum, which will be managed by SingHealth Fund, will be used for research in areas such as ageing and population health with the help of artificial intelligence, big data - or extremely large data sets - and precision medicine for healthcare.
Mr Jamie Teo, executive director of Ngee Ann Development, said at the event at the Singapore General Hospital Campus in College Road that the gift was made in commemoration of the development's 30th anniversary this year.
"Our gift will provide SingHealth with additional resources to further its research into age-related conditions, such as in eye, heart and neurological diseases. It will also support SingHealth educators as they prepare healthcare professionals to care for and manage the complex medical needs of older people.
"We believe that by investing in medical research and education today, we will pave the way for new treatments, cures and a healthier future for all."
Ngee Ann Development - a subsidiary of the Ngee Ann Kongsi charitable foundation - has a history of supporting various education, cultural and welfare causes.
This is the first time it has made a donation to a public healthcare institution.
The fund aims to help researchers in studying a spectrum of diseases and health conditions in search of better treatment options and patient care.
It will also be used to support medical education initiatives, including conferences and seminars for healthcare professionals.
By 2030, one in four Singaporeans will be over 65 and the ageing population is expected to drive demand for healthcare services here.
Professor Ivy Ng, group chief executive officer at SingHealth, said the fund will address challenges that affect the populations in Singapore as well as in Asia and support existing education programmes to build a pool of competent healthcare professionals to meet current and future needs.