SINGAPORE--(Marketwired - Feb 28, 2017) - Singapore-based Luye Medical Group has entered into a strategic partnership with OncoCare Cancer Centre furthering its ongoing strategy to make private healthcare services more integrated and available.
OncoCare is the second largest private oncology treatment center in Singapore with strong growth in the last few years. With new equity investment from Luye Medical, the integrated oncology specialists will be able to further accelerate their expansion in Singapore, creating greater values to the local healthcare environment. The tie-up also allows Oncocare to benefit from Luye Medical's broad international network, including access to the rapidly growing China market. Both organizations will work together in jointly developing healthcare capabilities and services in line with the increasing local and regional demands.
Through its investment in OncoCare, Luye Medical will see the group's capabilities in oncology treatment significantly expanded, thereby giving a boost to their core strategy of developing Singapore as a centre of excellence for oncology. Luye Medical Group has been building up their Singapore operations as a platform for new research and development to foster innovation and drive knowledge and best practices sharing around the region.
Meeting Local Healthcare Demands
Through the newly formed alliance, synergy will be leveraged between Luye Medical's resources and the capabilities of Oncocare, with ongoing plans to offer a seamless one stop oncology treatment and diagnosis centre to provide elevated care services for patients. "The capacity and capability of Luye Medical's oncology care will be expanded," said Mr Choo Kin Poo, Group Vice President, Strategy Planning & Business Development, Operations on the partnership.
Despite being known for its standard of practices, quality of services, and excellence as a regional medical hub, Singapore's healthcare industry has been faced with greater challenges due to increasing demand from the local population on the availability of accessible and affordable healthcare services.
Mr Choo shared his views on the current landscape of our local healthcare system, and how Luye Medical plays a role in contributing to the local medical industry. "Waiting time is a continuous challenge in the public system. It is thus important to develop synergies that will not only add value to our patients, but also help to make care more affordable. As a private healthcare provider, this is where Luye Medical comes in to support the system and provide an affordable option to our patients in the private environment as well as to create more job opportunities within the medical industry."
With a common dedication towards patient care, Dr Tay Miah Hiang, CEO and Consultant Medical Oncologist of OncoCare, said, "As doctors and especially as oncologist, we must care for our patients and their relatives like how we would want ourselves or our loved ones to be cared for in similar circumstances. With this partnership, there will be an increased relentless pursuit of service excellence through employment of more doctors and staff with the same mindset, research, precision investigation and therefore better treatment and delivery of services to our patients."
Adopting Best Practices Regionally
In addition to benefiting the local community, another core focus of Luye Medical will be on expanding their core capabilities in both the Southeast Asian region and the China market. Headquartered in Singapore, Luye Medical has a global presence across China, South Korea, and Australia.
"As a regional medical hub known for its excellence and quality in standards of practices and healthcare services, we are honoured to be able to share common industry practices that will bring benefit not only to patients, but of which can be adapted to different healthcare environments as well," mentioned Mr Liu Dianbo, Chairman of Luye Group. "The innovative healthcare model of Singapore provides an adequate eco-system to test-bed the latest industry practices before we extend our expertise and capabilities abroad. An emphasis on patient centrality and providing quality services are values we share with OncoCare, and we are definitely looking forward to the synergies which will be created."
The tie up with OncoCare is part of Luye Medical Group's strategic plan to leverage the best medical expertise, standard of practices and quality of healthcare services for its upcoming development in the region, specifically, the China market. Luye Medical currently operates medical centres in Shanghai, Chongqing, Chengdu and Yantai. As part of the Group's mid-term strategy, Luye Medical will focus on developing specialized medical centers as well as general tertiary hospitals in major cities in China.
About Luye Medical
Luye Medical is the regional healthcare services arm of Luye Group. Headquartered in Singapore, Luye Medical oversees operations in Australia, China, South Korea and Singapore including Healthe Care (Australia), AsiaMedic (Singapore), Luye Ellium (China and South Korea), Bobath Memorial Hospital (China) and GoodWill Dental (China). Through its acquisitions and partnerships with leading healthcare organisations, Luye Medical adopts and develop world-leading technology as well as operational and management systems. Luye Medical continues to strive to provide integrated and high-quality healthcare services to both global and local customers and patients in pursuit of fulfilling its vision to become the leading global organisation in the healthcare industry.
Founded in 2007, the OncoCare Cancer Centre (Singapore) has been committed to providing the best available cancer care to patients with its expert, personalized treatments, and efficient services. As Singapore's second largest provider of private oncology healthcare services and the fastest growing group, it currently has 5 clinics separately located at Singapore's premier hospitals. With a present team of 9 doctors, a 50% increase of staff over the next two years is expected in line with the expansion needs of Luye Medical.