Chen adds that contracts given within the healthcare industry always favour those that have an established reputation and have been around for very long. Many companies are wary of awarding contracts to start-ups, as there is a fear that these companies will not be able to continue the service after being awarded the contract.
Singapore-based healthtech company Euda Health is aware that for start-up healthcare companies to gain growth traction within the rather traditional industry, it can be tough, especially when trust is only given to those that have been in the industry for a long time.
Founder and CEO Dr Kelvin Chen says this is the reason why it has decided to take the company public, after having been around for some five years. He tells The Edge Singapore: “One of the key reasons for us listing, aside from getting funding, is to obtain accreditation and transparency as a listed healthcare company.”
