Singapore's Thomson Medical divests hospitality unit for $2.47m

It was bought by property tycoon Gordon Tang.

Singapore-listed Thomson Medical has sold Ariva, its hospitality arm, to local real estate tycoon Gordon Tang.

Ariva was bought for $2.47m (SGD3.38m) by a private company majority controlled by Tang.

Thomson Medical is private hospital specializing in Obstetrics & Gynaecology, Paediatrics, Fertility, Dermatology, Wellness services and more. It is particularly noted for its in vitro fertilisation (IVF) procedures.

The move was in line with the group’s decision to focus more on its healthcare business. The company is also mulling the sale of its real estate portfolio should the opportunity arise.

“The company has reviewed its business and decided to streamline its real estate business in Asia to focus on being a pure-play consultancy business. The Disposal is made pursuant to such decision,” the company said.