Basel Medical Group Ltd (NASDAQ: BMGL), a Singapore-based healthcare provider, has entered exclusive negotiations to acquire $1 billion worth of Bitcoin through a share-swap arrangement. This strategic move aims to diversify the company’s treasury reserves and support its expansion plans across Asia.(Benzinga, Nasdaq)
The proposed acquisition involves discussions with institutional investors and high-net-worth individuals in the cryptocurrency sector. If finalized, this transaction would mark one of the largest corporate balance sheet enhancements in the Asia-Pacific healthcare sector. The capital infusion is expected to provide Basel Medical with financial flexibility for mergers and acquisitions, establish a diversified asset base to weather market volatility, and position the company as a well-capitalized medical group in emerging Asian markets.(Nasdaq)
Dr. Darren Chhoa, CEO of Basel Medical Group, stated, “This $1 billion financial transformation will give us unprecedented capacity to execute our Asia growth strategy while maintaining conservative financial management. Our expanded balance sheet will allow us to move quickly on strategic opportunities as we build a premier healthcare platform across high-growth Asian markets.”(Nasdaq)
In April, Basel Medical Group completed its acquisition of Bethesda Medical Pte. Ltd., strengthening its Southeast Asia expansion strategy and unlocking synergies in diagnostic, outpatient, and musculoskeletal care through integrated cross-referral capabilities.(Benzinga)
The company anticipates finalizing the terms of the Bitcoin acquisition in the current quarter, subject to standard closing conditions and regulatory approvals.(Nasdaq)
Sources: