Prime Highlights
- Foundation Healthcare emerges as one of Singapore’s largest private healthcare IPOs this year, targeting $187 million.
- The offering draws commitments from 10 cornerstone investors, underscoring strong institutional interest in Singapore’s healthcare sector.
Key Facts
- Foundation Healthcare operates 74 specialist clinics and four medical centres across its network.
- The company posted pro forma 2025 revenue of S$265.9 million and adjusted core profit of S$51.4 million.
Background
Foundation Healthcare Holdings will raise about S$242 million, roughly $186.7 million, through an initial public offering in Singapore, the company announced.
The Singapore-based private healthcare group set its offer price at S$0.76 per share, landing at the lower end of the previously indicated range of S$0.76 to S$0.92.
Under the offering, Foundation Healthcare will sell 162.6 million shares at S$0.76 each, generating close to S$124 million directly from the public tranche. Ten cornerstone investors have separately committed a combined S$118 million to the listing, giving the offering strong institutional backing ahead of trading.
The size of the cornerstone commitment reflects steady confidence among established investors in the company’s business model heading into its public debut.
Foundation Healthcare operates a network of 108 in-house medical specialists, 74 specialist clinics and four medical centres, supported by its own proprietary end-to-end healthcare technology platform.
This blend of clinical reach and in-house technology places the group among the more established private healthcare operators in the region.On the financial side, Foundation Healthcare reported pro forma revenue of S$265.9 million for 2025, along with an adjusted core profit of S$51.4 million for the same year.
The public offer opened on Wednesday and will close on July 6, with trading in the shares expected to begin on July 8, marking the company’s formal listing on the Singapore exchange.
