SINGAPORE: ComfortDelGro said on Monday (Jan 10) it will acquire a 90 per cent stake in wheelchair transport service provider Ming Chuan Transportation for S$8.5 million.
The acquisition will be done through its subsidiary ComfortDelGro MedCare.
It will comprise Ming Chuan’s entire fleet of 76 vehicles, as well as its 86 employees and drivers, said ComfortDelGro in a media release.
"Upon completion of the acquisition, ComfortDelGro MedCare will have a total fleet of 92 vehicles, cementing its position as the largest wheelchair transport service provider in Singapore," it added.
The acquisition comprises Ming Chuan’s entire fleet of 76 vehicles, as well as its 86 staff members and drivers. (Photo: ComfortDelGro)
Founded in 2004 as a professional wheelchair transport company in Singapore, Ming Chuan currently has six clients who operate a network of daycare and physical disability centres across Singapore.
"Demand for its services has remained strong during the pandemic as many families remain in constant need of assistance to take care of their elderly, many of whom are afflicted with chronic or serious medical conditions," said ComfortDelGro.
It noted that Ming Chuan’s revenue grew by 15 per cent in 2020 from 2019, despite the COVID-19 "circuit breaker".
ComfortDelGro MedCare, launched in March 2021, provides medical escort transport services and specialised transportation services to those with mobility issues, as well as groups from healthcare or daycare centres, medical institutions and social service agencies.
It is looking to "broaden its reach and strengthen its position in the growing medical transport sector" with the acquisition, said ComfortDelGro.
“This opportunity has come at a time of increased demand for transportation services for mobility-impaired passengers and senior citizens," said ComfortDelGro MedCare CEO Lim Tien Hock. "Indeed the healthcare sector has seen strong growth in the last two years amidst the pandemic."
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The acquisition will be done through its subsidiary ComfortDelGro MedCare.
It will comprise Ming Chuan’s entire fleet of 76 vehicles, as well as its 86 employees and drivers, said ComfortDelGro in a media release.
"Upon completion of the acquisition, ComfortDelGro MedCare will have a total fleet of 92 vehicles, cementing its position as the largest wheelchair transport service provider in Singapore," it added.
The acquisition comprises Ming Chuan’s entire fleet of 76 vehicles, as well as its 86 staff members and drivers. (Photo: ComfortDelGro)
Founded in 2004 as a professional wheelchair transport company in Singapore, Ming Chuan currently has six clients who operate a network of daycare and physical disability centres across Singapore.
"Demand for its services has remained strong during the pandemic as many families remain in constant need of assistance to take care of their elderly, many of whom are afflicted with chronic or serious medical conditions," said ComfortDelGro.
It noted that Ming Chuan’s revenue grew by 15 per cent in 2020 from 2019, despite the COVID-19 "circuit breaker".
ComfortDelGro MedCare, launched in March 2021, provides medical escort transport services and specialised transportation services to those with mobility issues, as well as groups from healthcare or daycare centres, medical institutions and social service agencies.
It is looking to "broaden its reach and strengthen its position in the growing medical transport sector" with the acquisition, said ComfortDelGro.
“This opportunity has come at a time of increased demand for transportation services for mobility-impaired passengers and senior citizens," said ComfortDelGro MedCare CEO Lim Tien Hock. "Indeed the healthcare sector has seen strong growth in the last two years amidst the pandemic."
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