In recent years, Singapore has attracted a lot of investors and companies in the digital health sector has signed numerous partnerships in the private and the public sectors.
Let’s focus on the most recent agreements established in the field of eHealth in the city-state.
E-health: why Singapore is attracting?
In the APAC region, Singapore attracts e-health key-players for its reliability and its strategic location in the ASEAN. The partnership between Philips and the dedicated corporate investment arm of the Singapore Economic Development Board (EDB), announced in January, is an example among others.
In 2016, Dr. Eddy Lee and Kevin Yap, two eHealth experts, explained to H&TI why the « little red dot » is so attractive on this particular market.
According to them, the city-state is attractive to international contractors for two main reasons:
- it is an open market on Southeast Asia;
- it imposes strict rules to gain the confidence of global companies.
The latest health tech projects supported by the EDB
Zuellig Pharma investing S$50m in its first health innovation center
On 5 April 2017, Healthcare services provider Zuellig Pharma inaugurated its first innovation center in the city-state, Zuellig Health Solutions (HSZ). It plans to invest more than S$50 million (US$35,9 M/€36,7 M) over the next five years.
The establishment was launched with the support of Singapore’s Economic Development Board (EDB). So far, the company has spent nearly S$15 million (US$10,8 M/€10 M) to set up the facility.
Holmusk collaborates with Singapore to better manage cardio diseases through big data analytics
In early April 2017, the Singapore digital health and data analytics company Holmusk announced a collaboration with the National Heart Centre Singapore (NHCS) to improve care in the field of heart failure and coronary artery disease using big data analysis.
This three-year partnership aims to develop better predictive models that can be validated for use in the treatment and prevention of cardiovascular diseases in the city-state.
Supported by the EDB, Holmusk will work with NHCS until 2019 to analyze aggregated data from the Singapore Cardiac Outcomes Longitudinal Database (SingCLOUD), the longitudinal study on heart health of Singaporeans database.
Diabetes: Livongo raises US$ 52.5 million (€ 48,8M)
The California company Livongo, specializing in digital solutions for monitoring diabetes, has raised an additional $52.5 million in a round (€48.8 million) with several investors on March 16, 2017.
Livongo offers a blood glucose monitor accompanied with a service designed to intervene and help coach people through managing diabete. The firm said that this investment was made to extend its services to other chronic diseases related to diabetes, such as high blood pressure or hypercholesterolemia. The company also aims to enter new international markets.
The round was led by General Catalyst and the international investor Kinnevik. Investment arm of the Singapore Economic Development Board (EDBI), American Investment Holdings LLC and Microsoft Ventures also participated.
This is the third investment round made by Livongo. The firm had already raised US$33 million (€30.6 million) and US$44.5 million (€41.3 million) in 2016 from Kleiner Perkins and the investment fund of pharmaceutical company Merck.
Philips and EDBI have signed a partnership to develop eHealth in Singapore
A partnership between EDBI an Philips to support digital health companies
In January 2016, Royal Philips (or Philips healthcare) and EDBI, the corporate investment arm of the Singapore Economic Development Board (EDB) have signed a MoU.
The purpose of this partnership is to jointly invest in high-potential digital health companies that want to break into the Singapore market and, eventually, in the Asian market.
In July 2016, the Dutch group said more to H&TI about the purpose of this huge project.
- The main objective is “to build a robust digital health ecosystem that will serve the needs of a growing and aging population in Singapore and Asia,” a spokesman for Philips in ASEAN Pacific explained.
- “Another key objective of this partnership is to fuel the growth of innovative digital health companies by enabling access to Philips experts, our ecosystem of healthcare solutions and our extensive global network.”
EDBI and Philips are co-investing in promising digital health companies
EDBI, the dedicated corporate investment arm of the Singapore Economic Development Board, and Royal Philips announced on March 6, 2017 they are starting to co-invest in high-potential digital health companies.
ConnexionsAsia (CXA), Asia’s employee benefits and wellness marketplace platform, is the first of these innovative eHealth companies to be supported by the partners.
This project is in line with Singapore’s goal to strengthen its position as one of Asia’s leading digital health hubs.
Philips launches Health Continuum Space to centralize health tech innovations
Royal Philips (Philips healthcare) launched on January 19, 2017 the Health Continuum Space a first-of-its-kind innovation center in Singapore created to centralize high tech innovations in the healthcare sector in the city-state and, ultimately, co-create new healthcare facilities in order to better meet the future needs of the industry.
The idea is to brings together different environments and medical scenarios, from the ambulance to the patient’s home. At the end of the day, the goal is to better meet the patients’ need, taking into account the important role played by the home environment, through the use of innovative solutions produced by Philips in the field of health tech.
Partnerships between the public and the private sectors are growing
Care Management: Deloitte and the Institute of Mental Health of SG will deploy a predictive system
The Deloitte Future Healthcare Centre of Excellence, based in Singapore, has signed a partnership with the Institute of Mental Health of the city-state (IMH) to develop a predictive model in order to improve care management.
This new system will especially help health professionals to guide the behavioral monitoring of outpatients to limit the common causes of missed appointments through targeted care interventions.
Metabolic Diseases: J&J launched a competition in Singapore to find advanced solutions
Johnson & Johnson Innovation recently launched in Singapore a global competition to identify high tech solutions to better treat metabolic diseases, such as diabetes and obesity.
As part of this project, the US company – supplier of advanced products and services in the health care sector – has joined A*STAR’s ETPL, through its Diagnostics Development Hub, and Singapore-MIT Alliance for Research and Technology (SMART).
The Singapore Quickfire Challenge – Metabolic Disease Innovation will run from 22 March to 17 May 2017. It aims to identify advanced solutions for the diagnosis and treatment of metabolic diseases that are reaching epidemic proportions in Asia-Pacific.
Silver economy: Bayer & University of Singapore unite to promote adherence through eHealth
Improve treatment adherence in the elderly with chronic diseases, such is the objective of the partnership announced late in December 2016 between Bayer and the entrepreneurial center of the National University of Singapore (NUS).
They unveiled the first « Grants4Apps Singapore » crowdsourcing project that aims to develop technological solutions for innovative health in Singapore and throughout Asia-Pacific to improve adherence, one of the main challenges related to population ageing in the ASEAN region.
IPAL-CNRS, a French-Singapore laboratory
Initially, Image and Pervasive Access Laboratory (IPAL) is a research project initiated in 1998 by two researchers, one from Grenoble and the other one from the NUS. After a few years, the duo turned into a multidisciplinary team and from 2007, the organization became an international joint unit (UMI), an official laboratory of the CNRS.
Mounir Mokhtari, IPAL director, and Fabien Clavier, project manager, talked to H&TI a few months ago about key solutions developed by the French-Singapore laboratory. They are currently working on two main projects : City4Age and Pulse, two programs focused on prevention through the integration of new technologies.
« The goal is to develop research projects in Singapore in connection with what our teams perform in France to establish a win-win relationship between the two countries in the scientific field. The idea is to bring together people, practices and methods to facilitate discoveries, » summarized M. Mokhtari.
SingHealth and Medtronic create a center of excellence for the treatment of diabetes
SingHealth, one of the largest Singapore healthcare group, signed on 31 May 2016 a MoU with Medtronic, an Irish medical device company. The goal of this alliance is to develop a Center of Excellence on diabetes to advance treatment and care management in Southeast Asia, where the disease is progressing quite rapidly.
« We believe this will set a strong precedent for industry to participate actively in co-creating new healthcare solutions which will benefit healthcare in Singapore and the region, » said Thien Kwee Eng, assistant managing director, EDB.
Investments: Europe and the United States bet on the city-state
Southeast Asia: Unitus Impact leads $6.3M round in promising eHealth startup mClinica
In February 2017, Silicon Valley-based Unitus Impact has finished a US$6.3 million (€5.98M) Series A round financing in mClinica, a eHealth start-up based in Singapore.
MClinica is growing in the health tech marketplace. The firm plans to use its new funds to expand its operations in Southeast Asia and even worldwide.
Mobile app purpose: collecting relevant health data in Southeast Asia by connecting pharmacies on a single platform to help industry professionals and public sector players to better know the market.
Galen Growth, a catalyst for the growth of Asia’s healthtech ecosystem
In an interview published at the end of 2016, the international investor Julien de Salaberry, founder and CEO of The Propell Group, told H&TI more about this knowledge of the eHealth market. He talked about three important points:
- 1. The development of Galen Growth Asia, a small company he recently cofounded in order to advance the discussions on health-tech sector across Asia;
- 2. the characteristics of the investment in Asia;
- 3. the complexity of establishing a sustainable business model.
A one-stop shop for startups specializing in medical technology
A one-stop shop for medical technology start-ups will be established soon in Singapore. No specific launch date has been provided so far.
The aim of this creation is to fast-track the commercialization of innovative ideas, ranging from breakthrough diagnostic and surgical technology to cutting-edge connected devices. Unveiled at the end of June 2016, the project is a collaboration between Singapore incubation firm Clearbridge Accelerator and English product design and development company Cambridge Consultants.