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AIER Acquires ISEC Group, One Big Step in the Belt&Road

2019-09-29


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On August 26, 2019, AIER Eye Hospital Group announced that it would acquire a 35% stake in ISEC Healthcare Ltd. (ISEC) for S$67.07 million through its wholly-owned subsidiary-AIER International(Singapore) Co., Ltd. At the same time, a tender offer will be launched on the open market at S$0.36 per share. Through this acquisition, AIER·Singapore holds a minimum of 35% equity in ISEC, with a maximum shareholding ratio of 78.22%, the corresponding purchase amount is up to approximately S$150 million.


Founded in 2014, ISEC Healthcare Ltd. (ISEC Healthcare) is the leading eye-care chain institution in Southeast Asia. The Company listed on the Singapore Kelly Board (stock code: 40T), provides comprehensive and professional eyecare (ophthalmology) medical services. ISEC Healthcare operates across Singapore, Malaysia, and Myanmar, with 11 ophthalmology and general clinics. Dr. Lee Hung Ming, the founder of ISEC, is a renowned expert in cataract and LASIK refractive surgery who has received the A.C.E Award from the Asia-Pacific Cataract and Refraction Commission. Dr. WongJun Shyan, another founder of ISEC, is a well-known vitreoretinal disease expert and former Deputy Chairman of the Malaysian Medical Council-Academy of Ophthalmology, and in recognition of his contribution to the prevention of blindness, APAO awarded him for Distinguished Service in 2017.


Mr. Bang Chen, the chairman of AIER Eye Hospital Group, said that Southeast Asia is the most densely populated region in the world with a total population of more than 650 million which has huge market demand. In recent years, AIER Eye Hospital Group has actively participated in the Southeast Asian medical aid and foreign public welfare activities organized by relevant state agencies, including the Mekong Bright Journey Project, the Belt & Road Initiative: Loving Overseas Chinese-Brightness Action and so on, which has won high praise from the governments and the masses of these countries. 

Through this acquisition that helps to bridge the Southeast Asian market, AIER will further realize the global integration of clinical, scientific research, talents and markets, and vigorously promote the eye-health ecosystem strategy on the global platform. With the introduction of quality medical resources of ISEC and the leading medical experience of Singapore, AIER will improve its multi-level medical system, and continues to expand the market-leading edge in the field.


The industry delegates believe that the acquisition of leading Southeast Asian ophthalmic medical group ISEC lays down the global development network pattern of AIER covering Europe, North America, Southeast Asia, and China, will further enhance AIER's leading position in the world. At the same time, AIER's advanced experience in blindness prevention and treatment can also be exported to Southeast Asia, which will help enhance the international influence of Chinese medical care.