Boustead Singapore (SGX:F9D
) announced that its healthcare division, Boustead Medical Care Holdings (BMCH), has acquired a 60% stake in UroMedTech Pte Ltd (UroMedTech) through a $6 million equity injection.
According to Boustead Singapore, UroMedTech is a Singapore-based medical technology company pioneering integrated robotic solutions for prostate cancer diagnosis through its UroMaster system, with a research and development roadmap to integrate focal therapy treatment within UroMaster.
“Founded by a team headed by Dr Wilson Gao, UroMedTech has established itself as an emerging innovator in urology robotics, which has secured regulatory approvals in multiple markets including Singapore, Malaysia, Australia and other parts of Asia,” Boustead Singapore adds.
“We have filed for regulatory approvals in the US and the EU, and have sights on obtaining approvals in other global markets within the next few years,” says Dr Wilson Gao, founder and CEO of UroMedTech.
Shares of Boustead Singapore closed 5 cents higher, or 2.45% up at $2.09 on July 3.
