Singapore Medical Group Enters MOU For Cardiac Monitoring Joint Venture

Singapore Medical Group has announced entering into a non-binding memorandum of understanding (MOU) with Cardioscan in relation to a proposed joint venture to engage in the provision of cardiac monitoring and reporting services in Singapore, Malaysia and Indonesia.

Cardioscan is a company incorporated in Australia principally engaged in the provision of cardiac monitoring and reporting services in Australia and is currently the largest private cardiac monitoring company in Australia.

Pursuant to the MOU, the group and Cardioscan will each hold 50 percent equity interest in the joint venture entity. The MOU is valid for 90 days and is subject to the completion of the following matters: Registration of holter equipment in Singapore; formalisation of business plan; and entry into a definitive shareholders’ agreement by the group and Cardioscan.

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