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Data Vantage: SE Asia's payment firms benefit from surge in transactions

Data Vantage: SE Asia's payment firms benefit from surge in transactions
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Singapore: IFC and Mitsui & Co invest US$60m in MiCare HealthTEC Holdings

Singapore: IFC and Mitsui & Co invest US$60m in MiCare HealthTEC Holdings
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IFC and Mitsui to invest US$60 million in MiCare HealthTEC

Funding will help medical claims firm to expand in key Southeast Asian markets
27 May 2021 |
MiCare currently processes about US$400 million in medical claims annually.
International Finance Corporation (IFC) and Mitsui & Co. (Asia Pacific) have agreed to invest US$60 million in MiCare HealthTEC Holdings, a medical claims administrator and subsidiary of Zuellig Pharma. Zuellig Pharma will remain as MiCare’s largest shareholder and MiCare will continue to be led by its founder and chief executive officer Moses Hee.
The strategic investment will be used to fund MiCare’s expansion in key Southeast Asian markets, including Indonesia and Vietnam, and set up a new regional headquarters in Singapore. Baker McKenzie acted as legal adviser for the deal. ....

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