Boustead buys 60% of UroMedTech in $6m prostate cancer bet

The $6m investment expands the group's healthcare portfolio. 

Boustead Singapore is expanding its healthcare technology business after investing $6m for a 60% stake in Singapore-based medical technology company UroMedTech.

Through Boustead Medical Care Holdings (BMCH), the group added robotic prostate cancer diagnostics to the its healthcare portfolio.

UroMedTech develops UroMaster, a robotic MRI-ultrasound fusion biopsy platform used in prostate cancer diagnosis.

The company said the system has secured regulatory approvals in Singapore, Malaysia, Australia, and other Asian markets, and is deployed across seven hospitals and clinical sites in Singapore, Malaysia, Thailand, and the Philippines.

Boustead said the acquisition will support the commercialisation of UroMaster, the development of new capabilities such as AI-assisted pathology and focal therapy, and expansion into overseas markets through BMCH's regional distribution network.

"We founded the company with a vision of transforming the prostate cancer journey from a fragmented process into a seamless, technology-enabled experience for both clinicians and patients,” said UroMedTech CEO Wilson Gao.

Gao said the company has filed for regulatory approvals in the United States and the European Union and plans to seek approvals in additional markets over the next few years.

Following the acquisition, UroMedTech will continue operating under its existing brand whilst working with BMCH on research and development, clinical partnerships and regulatory approvals.

Boustead said the transaction is not expected to have a material impact on the group's profitability, earnings per share or tangible net asset value per share for the financial year ending 31 March 2027.