Japanese investment house Mitsui & Co. Ltd has led a Series B funding round for US-based healthcare technology and digital medicine company Koios Medical. Separately, Singapore-based investment company GK Goh Holdings Ltd has received a privatisation offer from its owners.
Koios Medical’s Series B round
Japanese investment house Mitsui & Co. Ltd., through its Singapore-based wholly-owned subsidiary MBK Healthcare Management (MHM), has led a Series B funding round for US-based healthcare technology and digital medicine company Koios Medical.
Financial terms were not disclosed.
Koios develops AI-powered clinical decision support software for radiologists, endocrinologists, and trained physicians and technicians.
“Today, the global healthcare industry is facing many difficulties, such as rising medical costs and a shortage of healthcare workers. At Mitsui, we believe that these issues can be addressed by harnessing the potential of untapped data within the healthcare system, as well as through active collaboration between traditional healthcare stakeholders and new businesses on cutting-edge technological solutions,” Takeshi Akutsu, Chief Operating Officer of Mitsui’s Wellness Business Unit, commented on the investment.
In Southeast Asia, MHM, the dedicated healthcare operating platform of Mitsui, is also the largest shareholder of IHH Healthcare Berhad.
GK Goh gets privatisation offer
Singapore-based investment company GK Goh Holdings Ltd has received a privatisation offer of $294 million from owners Goh Geok Khim and Goh Yew Lin through a special purpose vehicle – Verveine Pte. Ltd, per a release.
Goh Geok Khim is the executive chairman and Goh Yew Lin is the managing director of GK Goh Holdings Limited.
The offer price of S$1.26 apiece values the company at approximately $294 million. The founders already own a 62.89% stake in the firm.
The privatisaton and delisting will allow the company to restructure its asset mix and provide greater flexibility to take strategic long-term decisions without the pressure of delivering profits in the short term, it said in the release.
The decision comes as the company’s share price has been trading at a discount for a while. The privatisation move aims to provide shareholders with the opportunity to realise their investment at a premium without incurring brokerage and other costs.
GK Goh Holdings Ltd was listed on the Singapore Exchange Ltd in 1990.
