Luye Medical Group Co., Ltd, a renowned Singapore-based hospital operator has scarcely made a major investment in the NHC (Novena Heart Centre). If reports are to be believed, the valuation of the signed agreement has not yet been disclosed by either of the entities. The deal falls among Luye’s latest investments in medical care service providers in Singapore, inclusive of AsiaMedic and OncoCare Cancer Centre.

For the record, Luye Medical Group, under its umbrella, has 53 healthcare facilities spanning 26 cities across Australia, South Korea, China, and Singapore. According to the company’s official statement, the acquisition of NHC will help Luye to fulfill the growing demand for cardiovascular treatment in Singapore.

NHC's consultant cardiologist and co-CEO, Dr. Hsu Li Fern, has been quoted stating that NHC basically plans to establish more clinics in Singapore’s private hospitals, which would now be more convenient with Luye’s support. Incidentally, Luye Medical also aims to expand NHC's cardiology practice in China.

According to Luye’s group chief executive officer, Charles Wang, NHC’s acquisition would considerably strengthen the company’s reach in Singapore. Additionally, the deal would underscore Luye’s strategy to concentrate on expanding medical specialty areas as well as integrated services. He further went on to say that the agreement would enable Luye to leverage NHC's expertise in the medical field in addition to increasing its competency in cardiovascular treatments.

For the uninitiated, Novena Heart Centre is located in the Mount Elizabeth Novena Hospital and is a multi-disciplinary cardiology group practice. The entity is inclusive of five cardiology disciplines along the likes of cardio thoracic surgery, heart rhythm management, coronary intervention, heart failure, and cardiac imaging.

Incidentally, the Singapore-based healthcare company had also recently made it to the headlines when it decided to launch its Singapore IPO. Financially supported by Chinese entrepreneur Liu Dianbo, Luye plans to raise close to USD 500 million, claim sources familiar with the matter.