CCCS Consults on the Proposed Acquisition of TalkMed Group Limited by Tamarind Health Limited

21 January 2025

1. The Competition and Consumer Commission of Singapore (“CCCS”) is inviting public feedback on the proposed acquisition of TalkMed Group Limited (“TalkMed”) by Tamarind Health Limited^[1] (“THL”) (collectively, the “Parties”) (the “Proposed Transaction”).

2. CCCS accepted a joint application from the Parties on 13 January 2025 for a decision on whether the Proposed Transaction would be anti-competitive.

The Parties

THL

3. THL, through its subsidiaries in Singapore, is active in the following businesses in Singapore: (i) medical oncology; and (ii) other healthcare-related businesses, specifically, surgical oncology (breast cancer), cardiology, and post-cancer services (primarily breast cancer). Outside of Singapore, THL’s activities include post-cancer services (primarily breast cancer), and advisory and consultation services in Malaysia; medical and radiation oncology services in the Philippines, and oncology services in Hong Kong.

TalkMed

4. TalkMed is a publicly listed company in Singapore that provides medical oncology services, treatment of adult and paediatric blood disorders and haematologic malignancies and palliative healthcare services under the brand name “Parkway Cancer Centre”. TalkMed also provides cellular and gene therapy related products and services in Singapore through CellVec Pte. Ltd. and BioCell Innovations Pte. Ltd.

Economic Activities of the Parties

5. The Parties submitted that they overlap in the supply of medical oncology services in Singapore, and there are no supply relationships between them. Medical oncology refers to the field of medicine that deals with the treatment of cancer primarily with drugs, for example, chemotherapy.^[2]

Public Consultation

6. CCCS is inviting public feedback on the Proposed Transaction from 21 January 2025 to 5.00pm on 31 January 2025. CCCS is interested to hear views on the impact of the Proposed Transaction on competition. Public feedback can be provided via the official online form which can be accessed at https://go.gov.sg/cccsonlineform, or by emailing us at cccs_consultation@cccs.gov.sg. If the submission or correspondence contains confidential information, please also provide CCCS with a non-confidential version of the submission or correspondence.

7. More information on the public consultation can be accessed and downloaded from the CCCS website at cccs.gov.sg under the section “Public Consultation”.

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About the Competition & Consumer Commission of Singapore

The Competition and Consumer Commission of Singapore (“CCCS”) is a statutory board of the Ministry of Trade and Industry. CCCS administers and enforces the Competition Act 2004 which empowers CCCS to investigate and adjudicate anti-competitive activities, issue directions to stop or prevent anti-competitive activities and impose financial penalties. CCCS is also the administering agency of the Consumer Protection (Fair Trading) Act 2003 or (“CPFTA”) which protects consumers against unfair trade practices in Singapore. Our mission is to make markets work well to create opportunities and choices for businesses and consumers in Singapore.

For more information, please visit www.cccs.gov.sg.

^[1] TW Troy Limited, an indirectly wholly-owned subsidiary of THL, will acquire all the issued and paid-up shares in TalkMed.

^[2] https://www.singhealth.com.sg/patient-care/specialties-services/medical-oncology