TalkMed: CCCS Approves Tamarind Health Acquisition
Deal News | Jun 27, 2025 | EIN
The Competition and Consumer Commission of Singapore (CCCS) has approved the acquisition of TalkMed Group by Tamarind Health, stating that it will not significantly lessen competition in the Singaporean market. Tamarind Health plans to privatize publicly-listed TalkMed through a scheme of arrangement at $0.456 per share. The CCCS reviewed the merger proposal to ensure compliance with the Competition Act 2004, which prevents mergers that may unfairly limit competition. The review included a public consultation phase to gather insights from stakeholders such as competitors and insurance providers. CCCS concluded that patients have alternative oncology service providers in Singapore's public and private sectors, which mitigates concerns about market dominance. Tamarind Health is a Singapore-headquartered oncology-focused entity under the umbrella of asset manager Templewater, with investment from 65 Equity Partners, a Temasek-backed firm. Post-acquisition, Tamarind Health will see a new shareholder structure, with 65 Equity Partners holding 18.3% and doctor shareholders 31.3% of the voting interest.
Sectors
- Healthcare
- Private Equity
Geography
- Singapore – The transaction and its regulatory review were conducted entirely within Singapore, affecting the local healthcare market.
Industry
- Healthcare – The transaction involves medical oncology services, an integral part of the healthcare industry focusing on cancer treatment.
- Private Equity – Tamarind Health's acquisition includes investment from private equity player Templewater, classifying this under Private Equity.
Financials
- S$0.456 per share – The share price at which Tamarind Health proposes to privatize TalkMed.
- 18.3% – The percentage of voting interest 65 Equity Partners will hold in Tamarind Health post-transaction.
- 31.3% – The percentage of voting interest doctor shareholders will hold in Tamarind Health post-transaction.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Tamarind Health | Bidding Company | Company | Tamarind Health is a pan-Asian oncology-focused group headquartered in Singapore, controlled by Templewater. |
| TalkMed Group | Target Company | Company | TalkMed Group is a tertiary healthcare services provider. |
| Competition and Consumer Commission of Singapore (CCCS) | Regulatory Authority | Government | CCCS is responsible for enforcing competition law in Singapore, ensuring no substantial lessening of competition. |
| Templewater | Controller | Company | Templewater is an alternative asset manager controlling Tamarind Health. |
| 65 Equity Partners | Investor | Company | A Singapore-based global investment firm, backed by Temasek, investing in Tamarind Health. |