Temasek unit buys majority stake in Aurum
A TEMASEK Holdings unit has acquired a majority stake in Malaysia-based Aurum Healthcare which will be subsumed into Singapore-based contract manufacturer Advanced Materials Technologies (AMT) after the completion of the deal.
The acquisition was made through Accuron Technologies, a technology and engineering holding firm wholly owned by Temasek.
Aurum is the sixth medtech-related deal that Accuron Medtech Group has made in the last 2½ years, as the firm looks for opportunities in the global medtech market that is expected to reach US$537 billion (S$722.6 billion) by 2020.
"By adding a commercial and manufacturing presence in Malaysia through Aurum, we believe this deal will be beneficial for our group operating companies," said Accuron Medtech Group chief executive Abel Ang.
"Accuron Medtech companies can leverage upon each other's capabilities, networks and expertise in order to maximise their market and technology reach."
With the deal, AMT's manufacturing footprint will expand from its current 120,000 sq ft facilities - in Tuas in Singapore and Dongguan in China - to include Aurum's 20,000 sq ft facility in Johor Baru.
It will also help AMT transform into an integrated, end-to-end medical-device outsourcing specialist, said AMT CEO Albert Ngoh.
"We plan to scale up and diversify in the fast-growing medtech outsourcing sector in Asia," he added.
"The combination of Aurum's capabilities with AMT's extensive experience transforms us into one of a few contract manufacturers globally that is able to offer a comprehensive, fully integrated suite of medical-device outsourcing services."
THE BUSINESS TIMES