Singapore: SPH acquires Orange Valley Healthcare from KV Asia Capital in $117m deal

Singapore Press Holdings Limited (SPH) has entered the healthcare sector with the acquisition of Orange Valley Healthcare Pte Ltd (OV) at a consideration of approximately S$164 million ($117.7 million). 

SPH purchased shares and intellectual property in OV from KV Asia Capital Pte Ltd, which acquired OV in April 2014. 

Karam Butalia, Executive Chairman, KV Asia Capital, said, “Orange Valley has been providing Singaporeans with a one-stop comprehensive eldercare service for more than 20 years. We trust that SPH will help solidify its position as the pre-eminent provider of high-quality nursing care in Singapore, and bring its holistic and integrated healthcare service to a higher level.”

Started in 1993, OV operates a number of nursing homes and ancillary services that offer meal provision and catering services, physiotherapy and rehabilitation services, in addition to supplying medical, nursing and healthcare equipment and consumables.  

With Singapore’s ageing demographics forecast to see those aged 65 years and above to double by 2030 to 900,000, this will translate to about 25 per cent of Singaporeans being elderly, driving demand for aged care services in the next decade across a spectrum ranging from home care and community-based care to nursing homes.

Orange Valley Nursing Home currently runs five nursing homes across the city-state with over 900 beds. These facilities are located near major hospitals or housing estates with a high density of senior populations in the districts of Changi, Clementi, Marsiling, Simei and Sims Avenue.

This broad footprint offers choices to residents and is backed by an experienced management team and highly trained nursing workforce. In addition, it offers a wide spectrum of adjacent care services such as home care and respite care.

Alan Chan, CEO of SPH, said, “Singapore has a greying population with a need for long-term medical care. The investment gives us an opportunity to contribute to the healthcare needs of our ageing community. We look forward to partnering the management and staff of Orange Valley to provide caring, competent and compassionate service to the elderly and their caregivers.”

“We also look forward to working with the Ministry of Health and the regional healthcare systems to improve the accessibility and quality of aged care in Singapore,” Chan adds. 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.