SINGAPORE (June 6): Acromec has entered into a letter of intent (LOI) to collaborate on owning and operating a private fertility centre backed by a “leading US fertility centre” as a strategic investor and advisor.
The project’s core management team will be led by two fertility medicine specialists who the company did not name.
Assets required to operate the centre, such as its premises and equipment, will be acquired from a former customer of Acromec which has been placed under judicial management.
In its filing on Thursday, Acromec says it believes the proposed collaboration presents a strategic opportunity for the group to raise its core engineering services business to the next higher value-add level, as it works towards a turn-key model where it can source for the funding, design, build, and outfit of medical facilities to lease out or self-operate upon completion.
“This proposed collaboration is an opportunity to participate in the growth of the fertility business in the region. The high economic growth of the countries in the region, as well changes in demographics and developments in procreation sciences has spawned a strong demand for medical fertility services,” comments Lim Say Chin, executive chairman and managing director of the group.
Shares in Acromec closed flat at 9.3 cents on Tuesday.
