Medical service provider Medinex joins SGX Catalist board

It has a market cap of around $33b.

Singapore-based medical support provider Medinex made its debut to the Singapore Exchange’s (SGX) Catalist under the stock code ‘OTX’, bringing the total number of companies in the list to 213.

With its market capitalisation of about $33m, Medinex has brought in the Catalist’s combined market capitalisation of to more than $10b.

“Changing demographics and rising affluence will be key factors driving the demand for healthcare services in Singapore,” SGX head of equity capital market (SME) and head of capital market development Mohamed Nasser Ismail said. “As the company enters this new phase of growth, we look forward to supporting them in their expansion plans ahead.”

The firm’s services include overseeing the setting up of clinics, facilitating applications for relevant clinic licences, and providing business support services such as accounting and tax agent services, human resource management services and corporate secretarial services. In addition, Medinex also offers pharmaceutical services to its clients by assisting them in procuring medical and pharmaceutical products.

“Our IPO is an exciting milestone for the Group and we believe that with access to the capital markets, we will be able to grow our business operations further, to provide even more comprehensive integrated services to our customers in the medical industry,” Medinex executive director and CEO Jessie Low commented.

Medinex opened at $0.285.