Medinex opens 14% higher than IPO price on trading debut

Chan Chao Peh

SINGAPORE (Dec 7): Shares in Medinex opened at 28.5 cents on its Friday trading debut, higher than its initial public offering (IPO) price of 25 cents each. By 10.44am, volume of shares traded was 5.2 million.

Medinex IPO fully subscribed at 25 cents each

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As The Edge Singapore reports in its story this week, Medinex is a one-stop provider of administrative support services for the private healthcare industry.

The company helps doctors set up clinics, handle the renovation, apply for licences and permits, and then delivers recurring services such as accounting and corporate secretarial.

Jessie Low, CEO of Medinex, says her clients are typically doctors running their own clinics, which means they do not have their own accountant or secretary.

Medinex estimates that there are 3,500 to 4,000 doctors in private practice here. The company serves about 100 general practitioners and 120 specialist clinics. “So, there’s a lot of opportunity for us to grow,” says Low.

One of Low’s long-time clients is Dr Heah Sieu Min, CEO of SGX-listed HC Surgical Specialists which acquired a substantial stake in Medinex in June 2017.

To find out how Medinex intends to grow its business, get Issue 860 of The Edge Singapore (week of Dec 10) or login here to read Administrative support provider Medinex eyes bigger piece of private clinic market. Alternatively, you can subscribe here