With over 30 million new cancer cases expected annually by 2040, the need for accessible, advanced treatments has never been more urgent. BEBIG Medical, a key player in radiation therapy, is committed to making affordable healthcare a reality for all.
Formed through a series of strategic mergers and acquisitions among leading Chinese, German and American companies, BEBIG has become a global leader in the medical device sector. With installations in over 80 countries and a strong foundation as a Singapore-owned and managed entity, BEBIG reflects the nation’s rising influence in the global healthcare landscape.
Speaking to The Edge Singapore, BEBIG CEO George Chan says that he and a partner, both Singaporeans, started the journey in 2019 when they established an entity to acquire BEBIG, a medical company based in Germany, which was incorporated in 1972.
Acquiring BEBIG was not simply a matter of having the required funds. To remain competitive in the asset tender, Chan first bought out TCL Healthcare in China, the healthcare arm of TCL Technology, the renowned Chinese conglomerate best known for its television manufacturing.
“We acquired TCL because they have all the business licenses required as a healthcare company. We needed TCL Healthcare, too, so that we have a solid platform to compete in the tender to acquire BEBIG. That platform served us well; we participated in the asset tender, and we won,” says Chan.
The firm later acquired Mick Radio-Nuclear Instruments Inc. in the US and Wolf-Medizintechnik GmbH in Germany, strengthening the group’s radiation therapy product portfolio. BEBIG’s success stems from its expertise in high-dose-rate (HDR) brachytherapy devices. These advanced systems deliver precise cancer treatment, ensuring better patient outcomes and minimising side effects. Brachytherapy involves placing radiation source seeds directly in or near the tumour for targeted internal radiation therapy.
More affordable cancer treatment
Typically, radiation therapy for cancer patients comes at a very high cost, with many unable to afford the treatment even with insurance coverage. Chan says that only three main players in the market manufacturing brachytherapy specifically: BEBIG, Varian/Siemens and Elekta. “On the capital expenses side, we are all on par, but BEBIG stands out as a lower cost treatment in that we offer savings on operating expenses.”
He also notes that BEBIG’s competitors use Ir-192 as their radioactive source, which has a half-life of just four months. In contrast, BEBIG has used Co-60 since 2002. While Co-60 may be more expensive initially, it offers significant long-term savings for medical institutions over the product’s lifecycle.” They can see savings of about 30% to 40% because they will not need to change the radioactive source as often as Ir-192. Changing the source is a cost, as they would have to pay for the transportation and disposal of it,” says Chan. The long-term cost savings benefit can then be passed down to the patients.
BEBIG’s linear accelerator is about to earn CE certification for Europe
BEBIG is also in the process of obtaining CE certification for its linear accelerator, a regulatory standard that ensures products are safe for sale and use within the European Economic Area. This separate device is used in radiation therapy to accelerate electrons and photon beams to a patient’s tumour.
The group’s linear accelerator helps medical institutions reduce costs by cutting out the middleman. BEBIG streamlines the go-to-market process by selling directly, either through its own offices in specific countries or via local distributors, before reaching the hospital. Chan, formerly president of Siemens Healthineers Greater China, points out that competitors in the industry often have multiple layers in this process, with each additional layer adding extra costs for the end user, the healthcare institution.
Once the group secures CE certification for its linear accelerator, it will become the third global competitor in the market after Varian/Siemens and Elekta. Chan says: “We used to have a distributor in India, but now we have grown in that market and decided to open up an office there. Today, we sell directly to healthcare institutions via our India office, cutting out the middleman. We have been growing (our revenue) in India at about a CAGR of more than 100% for the past three years with sustainable profitability.”
He is also confident that offering a more affordable linear accelerator than those currently on the market will drive competitors to improve both their services and pricing. “I appreciate that because if that happens, then more people will be able to afford this treatment. As it is, there isn’t enough to go around the world today. So, I do see growth for this, at least for the next 20 years,” he adds.
Singapore’s medtech future
With a presence in China, Germany and the US, Chan is now bringing BEBIG back to the Lion City.” I think Singapore is a great place to be, and it will be for the next 20 years. This is especially because of the current geopolitical situation, and Singapore is well-positioned for global growth. We will be restructuring our company from a Chinese holding company to a Singapore headquartered one,” he says.
While the city-state may not yet lead the medical device industry, Chan is determined to change that landscape. “Singapore does have a small population, but we can be at the forefront of the medical device industry too. We just have to believe in it. I will eventually aim to build up Singapore’s infrastructure in terms of supply chain, production, talents, R&D, training and more so that Singapore can be a benchmark to the rest of the world,” says Chan, who believes that he has what it takes to get the ball rolling in the Republic.
While BEBIG already meets the IPO requirements of several international stock exchanges, Chan is in no hurry to take the company public. In the meantime, attracting investors has been effortless, and he takes pride in being able to handpick BEBIG’s backers. “I’m selecting the world’s leading funds. We’re looking for more than just capital; we want the right support to grow.”
BEBIG’s current international investors include Cathay Capital, a global healthcare private equity and venture capital firm. Chan adds: “Together, we can create a world where precision medicine and compassionate care go hand in hand, ensuring that no one is left behind in the fight against cancer.”
BEBIG’s success stems from its expertise in high-dose-rate (HDR) brachytherapy devices
