S68
(SGX) in 2018, the group has earned a reputable position in the pharmaceutical industry. While maintaining a robust presence in the Republic, it is steadily expanding its footprint throughout Southeast Asia, across various business segments.
See also: The Edge Singapore unveils winners of 2023 Billion Dollar Club
See also: Celebrating the top listed companies in Singapore
M01
invested $6 million in Hyphens Pharma’s subsidiary, DocMed Technology, a digital health platform. Metro Holdings, also listed on SGX, operates in various markets, including property and retail.
Digital platforms
DocMed also aims to create digital platforms to improve the healthcare supply chain. This digital ecosystem includes WellAway, an e-prescription platform enabling online prescriptions and direct drug orders for patients. It is the city-state’s first and only Health Sciences Authority (HSA)-registered E-Pharmacy. Another platform is POM, a B2B (business-to-business) marketplace providing drug and medical supplies to medical professionals.
“DocMed aims to provide a B2B digital pharmacy solutions platform to connect healthcare stakeholders, including healthcare practitioners such as doctors and pharmacists, and healthcare institutions such as clinics and hospitals, with industry stakeholders such as pharmaceutical companies and medical consumables manufacturers, to empower them to meet patients’ needs more efficiently,” says Zhang.
Hyphens Pharma’s efforts to streamline the medical hypermarket and digital segment appear poised for growth in the long run, as revenue from the segment grew to $43.2 million in FY2022 from $41.2 million the year before, a stable but moderate rise of 4.9%.
The group will further develop its proprietary segments to secure a larger portion of the regional market, capitalising on the increasing income levels that drive greater demand for healthcare and increased consumer spending.
Other positive trends, like more comprehensive insurance coverage, will further reinforce these efforts.
She adds: “In the near term, we still see market uncertainties relating to supply chain disruptions and the macro-economic environment. Consequently, our focus remains on maintaining the same level of performance as the previous year, which was a record year. In the long run, Southeast Asia is the market in which we see a lot of potential.”