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Thomson Medical, IVI-RMA to form assisted reproduction platform in Singapore
MAINBOARD-listed Thomson Medical Group (TMG) has signed an agreement with IVI-RMA Global (IVI-RMA) for a proposed joint venture (JV) that will see the two groups form Asia's leading assisted reproduction platform, the healthcare group said on Friday.
IVI-RMA is currently the largest medical group specialising in assisted reproductive technologies (ART) worldwide, with more than 70 clinics spread mainly across Europe and the Americas.
The new JV, to be headquartered in Singapore, will seek to deliver industry-leading clinical services, as well as training and research for assisted reproduction services.
The partnership also aims to bring the best technology, knowledge and expertise to address the growing demand for assisted reproduction in Asia, particularly in China, Indonesia and Vietnam.
According to TMG, global demand for assisted reproduction (mainly through IVF procedures) has been on an upward trend, and is projected to grow significantly.
Following studies by Allied Market Research, the overall number of IVF cycles performed in Asia stood at 329,300 in 2013, and is expected to more than double by 2020. The total value of Asia’s IVF market is also estimated to reach US$4.2 billion by 2020, TMG noted.
Said TMG chairman Ng Ser Miang: "As a leading women and children's healthcare services provider, and one of the pioneers of IVF in Singapore, Thomson Medical has been helping families realise their dreams of parenthood for close to 40 years."
"As we work towards our vision of transforming into Asia's preferred integrated health system, we are very excited at the prospect of working with IVI-RMA Global to build the best possible platform in the field of ART. I want to congratulate the TMG team for this milestone agreement."
Shares in TMG closed at 7.7 Singapore cents apiece on Friday, down 1.3 per cent before the release of this announcement.