The proposed acquisition of TalkMed Group by Tamarind Health has been cleared by the Competition and Consumer Commission of Singapore (CCCS) on June 27.
The competition watchdog says that it has assessed that the proposed transaction will not infringe the section 54 prohibition of the act, which prohibits mergers that may substantially lessen competition within any market in Singapore.
The parties overlap on the provision of private medical oncology services in Singapore.
CCCS commenced its review of the parties application for a decision on Jan 13, 2025. CCCS has ruled that there are alternative providers of medical oncology services in both private and public sectors in Singapore, and any increase in both parties’ market power will likely be constrained by insurers.
Tamarind Health, first offered 45.6 cents per share to privatise TalkMed Group last April. Tamarind Health has the backing of investors including Temasek unit 65 Equity Partners. The privatisation offer valued TalkMed at more than $606 million.
The offer is made via TW Troy, a vehicle held by Tamarind Health, whose investors include Hong Kong-based Templewater and 65 Equity Partners.
The company first flagged the possibility of an offer on Apr 6, 2024. Since then, the group of doctors who founded TalkMed, with a total stake of 83.06% between them, have given their irrevocable understanding to sell their shares.
Shares in TalkMed closed flat at 45 cents on June 27.
