It ranked next to China and India as a hotspot for healthtech investments.
Singapore placed third in Asia Pacific’s largest recipient for healthtech investments with investments totaling around US$16m in H1 2018, a Galen Growth Asia study revealed.
The study found that solid legal framework, economic stability, and government incentives attracted healthtech deals to the Lion City in H1 2018.
Despite deals slipping, Singapore’s healthtech deals contributed 26% to the Asia Pacific’s total healthtech investment, exluding China and India, as Singapore is home to 11% of APAC’s healthtech ecosystem. It followed Japan which contributed 44% in terms of healthtech deal volumes whilst Australia and Malaysia contributed 13% and 9% respectively to APAC healthtech deal volumes excluding China and India.
APAC healthtech fundings for H1 2018 reached US$3.3b which is US$550m higher than fundings received for the whole of 2017.
"Even our Q1 2018 prediction of $1.5B for this period didn’t get anywhere near the record-breaking half year funding total of US$3.3B," Galen Growth Asia CEO and founder Julien de Salaberry commented.
China saw the largest healthtech fundings with 48 deals totalling US$3b followed by India with 37 deals.
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