Meta Health, which was formerly known as Metal Component Engineering, has appointed Dr Bernard Ng as its chairman and group CEO, as it transforms from metal engineering to digital healthcare.
Ng is now executive director of 5Digital, among one of the entities that became part of the company as part of its moves into this new business area.
The recent acquisitions include an 85.07% stake in Gainhealth, bringing primary care and central pharmacy services together with both online and offline sales channels.
The company has also announced a conditional sale and purchase agreement with PT Gaido Digital Medika to take a 10% stake in MedTel Healthcare
The acquisitions were partly funded by a group of investors who subscribed to new shares at 4.95 cents each. They include Dr Lim Cheok Peng, former CEO of Parkway Holdings and managing director of IHH Healthcare and Yong Yean Chau, CEO of Parkway Life REIT
Chua Kheng Choon, current chairman and CEO, will take on a new role as senior vice president of engineering, where he will continue to head the metal engineering business.
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Both new appointments take effect on June 7.
Ng was previously chief medical officer, head of global medical and clinical affairs at Bayer Consumer Healthcare.
Ng says he looks forward to working alongside the management team to explore new streams of business development opportunities.
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He is also going to conduct a strategic review of the existing businesses, with a view to create value for shareholders.
“The group will also look into accelerating our revenue and profit growth targets through strategic acquisitions and scaling of our current activities,” says Ng.
Meta Health closed June 6 at 3.7 cents, down 5.13% for the day and down 26% year to date
