Alliance Healthcare invests in startup, Jaga-Me for S$3.5 million — despite the startup's loss-making in 2018

The board sees potential in Jaga-Me digital healthcare platform.


Syamil Faisal20 Dec, 2019

Alliance Healthcare invests in startup, Jaga-Me for S$3.5 million — despite the startup's loss-making in 2018

Alliance Healthcare Group plans to invest S$3.5 million in Jaga-Me giving it a 55-per cent stake in the Singapore-based startup.

It will fund the transaction with S$1.05 million in proceeds from its initial public offering (IPO) and bank loan.

The board decided to acquire Jaga-Me as they look to leverage the startup's mobile health features and its scalable digital platform — an app that offers convenience to consumers in scheduling and paying for the delivery of medical goods and services.

Despite Jaga-Me making S$682,250 loss in 2018, Alliance Healthcare Group asserted the platform's potential earning prospects as a more appropriate valuation than valuing the investment with an asset-based approach.

"We look forward to exploring in-depth synergies with Jaga-Me as we continue to provide differentiated and cost-effective healthcare solutions for diverse medical needs, such as hospitalisation, critical illness care and chronic care," said Barry Thng, chairman and chief executive of Alliance Healthcare Group.

Syamil FaisalAuthor

Founder at Conscious Creatives. Storyteller.

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