Thomson Medical Group subsidiary to partner HealthTech startup Plano

THOMSON X (TX), a wholly-owned subsidiary of Thomson Medical Group (TMG), has entered into a strategic partnership with Singapore-based HealthTech startup, Plano, according to an exchange filing on Friday.

In a joint statement, the companies said the collaboration will leverage on the respective strengths of TX and Plano to address and manage the rapidly increasing incidence of myopia through "innovative technological solutions".

Through the partnership, TMG's patients at Thomson Paediatric Clinic and Thomson Kids in Singapore, and Thomson Eye Centre in Malaysia will soon have access to Plano's eye-care solutions on top of Thomson's existing healthcare services.

In addition, the partnership will also "accelerate Plano's market potential" through TX's global partner, the Global Esports Federation, by delivering eye health services to Esports athletes and gamers who are exposed to long screen time.

Plano is a health technology company that specialises in myopia management through "education and awareness, innovative technological solutions and AI".

TX is a platform that is focused on simplifying healthcare through technology. The company oversees TMG's technology roadmap by connecting HealthTech startups with its healthcare expertise and network to "scale up rapidly and maximise their reach, creating sustainable growth", according to the statement.

The partnership will grant TX an option to subscribe for an equity stake in Plano which can be exercised in three tranches over a six-year period, subject to certain milestones and business performance.

If all three tranches are exercised, TX will hold a minority stake in Plano, allowing TX to participate in Plano's future growth, TMG said.

Shares of TMG fell 2 per cent or 0.1 Singapore cent to 4.8 Singapore cents on Friday, before the announcement.