Tan Chuan-Jin appointed chairman of Healthway Medical's new advisory board

Singapore

SINGAPORE'S largest private clinic chain Healthway Medical Corporation (HMC) has formed a new medical advisory board, which will be helmed by Speaker of Parliament and Member of Parliament for Marine Parade GRC, Tan Chuan-Jin.

Also appointed to the advisory board are Dr Lily Neo, Member of Parliament for Jalan Besar GRC and Professor Bernard Yeung, dean and Stephen Riady distinguished professor of finance, strategy & policy at the National University of Singapore (NUS) Business School. They have been appointed for a one-year term.

A Healthway spokesman said: "The medical advisory board will provide insights to Healthway on key market trends and other developments in the medical field, which may impact the company or its operations, including in the areas of doctor engagement and clinical practice. The advisers will also offer guidance and advice on industry best practices in adopting key trends and developments in the medical field."

Mr Tan said: "Among the biggest public policy challenges any government will face in the future is the issue of sustainable healthcare, given the way demographic patterns are unfolding. The private sector can play an important role in addressing this."

He added: "I felt that this appointment would be an interesting opportunity to help develop this further. Healthway runs one of the largest network of clinics in Singapore and there is much good that it can do in the community."

Other roles currently held by Mr Tan include deputy chairman of Mandai Park Holdings and senior adviser to Temasek. He assumed both roles in November last year.

The establishment of the advisory board is in line with Healthway's strategy to adopt a patient-centric and technology-enabled approach towards healthcare, the company highlighted. In November, HMC announced it was tying up with South Korea's SK Telecom, the Seoul National University Bundang Hospital, and HealthConnect, to explore using the latest information and communications technologies in healthcare applications.

Stephen Riady, non-executive director of HMC, said: "I am confident that their guidance will not only enable the company to be a leading healthcare provider, but also meaningfully contribute to the community. This is part of our mission to provide quality medical services and facilities that are easily accessible to patients."

Last year, an entity linked to Indonesian conglomerate Lippo Group, which is controlled by the Riady family, made a successful S$103 million takeover offer for HMC.

For the financial year ended Dec 31, 2017, HMC posted a net loss of S$34.8 million, narrowing from S$44.1 million a year ago. Shares in Catalist-listed HMC closed at five Singapore cents on Thursday, edging up 0.1 cent.