SINGAPORE (Reuters) -SeaTown Holdings International said on Wednesday it has invested in AddVita, a Singapore-headquartered healthcare and life sciences distribution company, with a capital commitment of up to S$115 million ($89 million).
SeaTown Holdings is an Asia-focused alternative investment firm owned by Seviora Holdings, an asset management group of Singapore state investment company Temasek, according to the statement.
SeaTown said that AddVita will look to acquire niche businesses in Asia, specialising in distributing medical, laboratory and pharmaceutical products and services.
“The healthcare distribution sector is resilient, with robust secular growth tailwinds,” Dickson Loo, managing director of private equity at SeaTown, said in the statement.
($1 = 1.2923 Singapore dollars)
(Reporting by Yantoultra Ngui; Editing by Eileen Soreng)
