Thomson X, a wholly-owned subsidiary of Thomson Medical Group, has inked a strategic partnership with Plano, a Singapore-based healthtech startup.
The collaboration will leverage on the strengths of Thomson X and Plano to address and manage myopia through technological solutions, which Plano specialises in.
Myopia is said to be growing into one of the biggest public health challenges in the world, affecting 2.6 billion globally.
The partnership will grant Thomson X an option to subscribe to an equity stake in Plano, which can be exercised in three tranches over a six-year period based on certain conditions.
If all three tranches are exercised, Thomson X will hold a minority stake in Plano.
Shares in Thomson closed 0.1 cent lower or 2.0% down at 4.8 cents on Feb 5.
