Singapore's Thomson Medical Group spins off real estate business

It intends to become a pure healthcare platform.

Thomson Medical Group, a Singapore-listed hospital developer and operator, has revealed its plan to spin-off its real estate business and focus instead in its healthcare services.

“This move is in line with our current focus in developing and growing our healthcare business as well as our plans to divest the real estate business. It will lead to us becoming a pure healthcare company, and will allow management to focus on capturing the growing demand for quality healthcare in this region,” said Ng Ser Miang, Chairman of Thomson Medical Group Limited.

The group currently owns RSP Holdings, a real estate business with interests in design and engineering, real estate development and hospitality. RSP Holdings will cease to be the group’s subsidiary once the spin-off is completed.

“In order to maximise the growth of both the healthcare business and the real estate business, it is necessary to separate the principal activities, business strategies and future plans of RSPH from the rest of the Group to enable the management of each entity to better focus on their respective core businesses and geographies, and to oversee their strategies and operations more effectively,” Ng noted.