The biotech firm has acquired seven clinics for S$4 million that it says are complementary to its business and will transform it into a healthcare platform. 

Cuprina, a Singapore-based biotech company that specialises in the development of products to treat chronic wounds, has acquired seven clinics in Singapore for approximately S$4 million (US$3.1 million). 

The clinics are made up of East Coast Podiatry Centre, which operates East Coast Podiatry Clinic, a leading podiatry-focused chain in Singapore; and Orchard Clinic Management, which operates Orchard Clinic, a Singapore women’s health and wellness clinic. 

Three-quarters of the acquisition will be made up in cash, comprising approximately S$0.5 million paid upon execution, S$1.35 million payable upon closing, and S$1.15 million in deferred cash consideration payable over a two-year period. The remainder will be paid in Class A shares. 

In a statement, the company said that East Coast Podiatry Centre is “naturally complementary” to Cuprina’s wound-healing focus, particularly in diabetic foot and lower-limb wound management. It added that Cuprina’s collagen-based technologies for beauty complement Orchard Clinic Management’s women’s post-partum recovery programs, particularly in relation to abdominal and tissue recovery. 

“This acquisition marks a pivotal step in Cuprina’s evolution from a biomedical innovator into a fully integrated healthcare platform,” said chief executive officer David Quek Yong Qi. “By taking full ownership of [the two companies], we are acquiring high-quality clinical businesses with loyal patient bases, proven management teams, and direct synergies with our core wound-care and collagen technologies,” he added. 

In mid-September, Cuprina raised US$4.97 million in a Nasdaq IPO via RF Lafferty & Co. at US$1.15 per share.