Health Management International (HMI) Group, a Singapore-based healthcare provider, has agreed to acquire MHC Asia Group, a medical benefits administrator and healthcare technology platform that is also based in Singapore.

This deal will enable the combined entity to deliver integrated and comprehensive healthcare services.

With a revenue base exceeding S$350m ($261.6m), the acquisition positions HMI Group to tap into the growing digital healthcare opportunity in Southeast Asia, which is estimated to reach $11bn by 2027.

The combined entity aims to address challenges such as an ageing population, rising healthcare costs, and increasing prevalence of chronic diseases.

Serving over three million patients annually, the integrated platform offers a wide range of digital and physical services, including telemedicine, diagnostics, health screening, primary and specialist care, ambulatory care, and inpatient care.

HMI Group owns numerous healthcare facilities in Singapore and two tertiary hospitals in Malaysia.

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The merger enhances digital health and technology expertise to boost patient engagement, accessibility to services, and cashless payment options.

HMI Group remains committed to investing in technology to expand care delivery, provide access to medical information and analytics, and improve health outcomes.

HMI Group CEO Chin Wei Jia said: “We are excited to join forces with MHC to expand our healthcare footprint in the region.

“Working with like-minded partners allows us to further our commitment to delivering seamless and value-based quality healthcare.

“With an integrated healthcare platform supported by the latest technology, we will be able to introduce new care models to better engage and support our patients throughout their healthcare journey.”

MHC Asia founder and chairman Dr. Low Lee Yong said: “This partnership with HMI Group marks a very important and exciting milestone for MHC.

“Together we can now achieve vertical integration of care and explore vast possibilities to manage rising healthcare costs for our insurance partners and corporate clients both locally and in the region.”