HealthTrends Medical Investments to Float Through Reverse Take-Over of SGX-Listed Company
Albedo Ltd to offer 90% of enlarged share capital to HealthTrends shareholders
BAF Spectrum Pte Ltd, a leading Singapore-based seed investment fund, today announced that one of its investee companies, HealthTrends Medical Investments Pte Ltd is involved in a planned reverse take-over of Albedo Ltd, a company listed on the Singapore Stock Exchange.
In a memorandum of understanding signed between HealthTrends and Albedo on March 28 this year, the parties state that they will “use their best endeavors to work towards entering into a definitive and legally binding agreement by May 31, 2008”. Albedo Ltd will offer 90% of the new, enlarged share capital to HealthTrends shareholders.
BAF Spectrum recently announced its SGD $1 million investment into HealthTrends and the appointment of Mr. Francis Chua, executive director of BAF Spectrum, to HealthTrends’ board of directors.
Supported by entrepreneurial medical doctors and investors, HTMI is a regional healthcare enterprise providing medical and wellness care to both the sick and the healthy. This is achieved through an integrative and holistic platform comprising a network of up to 100 medical and specialist clinics, aesthetics and wellness centers in Singapore and neighboring countries.
Albedo Ltd had a market capital of around SGD $12m in recent trading on the SGX.
About HealthTrends Medical Investments Pte Ltd (HTMI):
HealthTrends (“HTMI”) is a regional Medi-lifestyle healthcare enterprise providing medical and wellness care to both the sick and healthy through an integrative medical-centric platform in Singapore and the neighboring countries.
The core segments of HTMI’s integrative healthcare services and products include:
Primary Medical Care, with emphasis on the prevention and treatment of chronic and degenerative diseases like diabetes, hypertension, hypercholesterolemia, weight management, arthritis, asthma and allergies.
Specialist Medical Care with focus on Day Surgery, oncology, orthopedics, ENT (ear, nose and throat), eye, urology, spine care and pain management.
Medical Aesthetics and Lifestyle, with special focus on beauty and skin care, body contouring, clinical grade cosmetics, weight management (including procedures like Ultrashape, Thermage and Smartlipo), dental aesthetics like teeth-whitening, as well medical spa treatment and services.
Medical Wellness Care, with particular focus on scientifically accredited diagnostic health screening, medical supplementation and other wellness care products to achieve optimum health and vitality.
For more information, please visit www.healthtrends.com.sg
About Albedo Ltd:
Albedo’s principal business is trading and distributing of steel-related materials to steel mills and iron/steel foundries primarily in the Asia Pacific region. It also manufactures and sells cast iron and steel rolls. It was incorporated in Singapore in 2005 and listed on the Singapore Stock Exchange on April 13, 2006.
About BAF Spectrum Pte Ltd:
BAF Spectrum invests in fast-growing and highly scalable Asian companies with a world market potential. The Singapore-based fund has committed more than US $14 million for early-stage ventures; partly financed through the Business Angel Scheme (BAS) operated by SPRING SEEDS Capital, a government-linked agency. BAF Spectrum’s seven executive directors from Asia and Europe represent a wide cross-section of business experience.
For more information about BAF Spectrum and director profiles, please visit www.bafspectrum.com
- Contact Information
- Francis Chua
- Managing Director
- BAF Spectrum Pte Ltd
- Contact via E-mail
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