Novena Global Lifecare

Novena Global Lifecare Group is a medical center and aesthetic group in Asia. The organization is based in Singapore.[1] The group provides skin and body care and wellness services and products. Presently, the group has 100 clinics in Singapore, China, Hong Kong, Taiwan, Korea, Indonesia, India and Malaysia.[2][3]

Novena Global Lifecare Group
Formation2010
FounderTerence Loh, Nelson Loh
Founded atSingapore
TypePrivate
Legal statusActive
HeadquartersSingapore
Coordinates1°19′13.9″N 103°50′31.3″E
ServicesHealthcare, aesthetic
Websitenovenalifecare.com

In July 2017, the company announced plans for a potential future US$150mm Taiwan IPO.[4] In January 2018, China's Cedarlake Huarong Investment acquired a stake in Novena Global Lifecare for an undisclosed sum.[5]

History

Novena Global Lifecare Group was founded in 2010 by cousins Terence Loh and Nelson Loh, both former investment bankers at J.P. Morgan. Nelson found the idea of forming a medical aesthetic group when he found that his mother’s medical aesthetic bills running into thousands of dollars.[6][7] One of their early investments was a KOSDAQ-listed medical equipment manufacturer in South Korea to develop their own research and manufacturing arm of the group. They also took interests in healthcare companies in Taiwan as well as the PPP chain of clinics in Singapore, renaming it to NOVU and NOVU Genesis.[8] Prior to founding Novena Global, Terence and Nelson co-founded DORR Group, an Asia-based private equity group which invested in the consumer, internet, media and healthcare spaces. [9]

Overview

The Group provides predictive care through health screenings for early detection of diseases and nutritional supplements. In November 2017, the company acquired four specialist eyecare centres in Singapore. Two of the centres, Total EyeCare Center at Orchid Hotel and a branch in Jurong East, were owned by Gerard Chuah, a private eye surgeon specialising in vitreoretinal surgery.[10] The other two clinics, Specialist Eye and Eyelids Clinic at Novena and The Eye and Aesthetics Clinic in Suntec City, were owned by Chuah Chin Tek.[11] In Taiwan, Novena acquired a majority stake in healthcare provider Hexin Group to manage the health screening services at Taipei Medical University Hospital, Taoyuan General Hospital, China Medical University Hospital and Taipei Beitou Hospital.[12] In November 2017, the group announced that it will acquire majority stake of Taiwan based Hexin Group, the third largest healthcare screening provider in Taipei founded in 2007.[13][14]

Preventive care and research

The Group provides preventive care services through stem cell treatments and DNA testing in North Asia. In Taiwan, they partnered with Health GeneTech to develop DNA testing services to identify vulnerabilities to inheritable diseases. The team is working with universities and regional labs in Taiwan, Korea, India and Hong Kong to develop a database on Asian genetics for predictive developmental and healthcare management.

Rejuvenative care

Novena Global provides rejuvenative care through aesthetic and wellness services, skin and body care products and post-natal care. Its flagship brand is NOVU Medical Aesthetic Clinic, with 50 clinics in Singapore, Malaysia, Indonesia, China, Korea and Spain[15] In May 2017, the group partnered with Australian model and actress Jessica Gomes to launch Equal Beauty, a fragrance free line of skincare products designed for all skin types and races. Equal Beauty is a luxury Australian travel skincare brand suited for the modern jet setting woman.[16] In November 2017, Novena Global opened a clinic in Madrid in Spain under the NOVU brand. In January 2018, Novena Global launched its new flagship clinic concept, NOVU Genesis.[17]

NOVU Medical Aesthetic Clinic

NOVU is the flagship brand of Novena Global Lifecare Group with over 40 clinics in Asia including Singapore, Malaysia, Indonesia, China, South Korea, Myanmar and Spain. The clinic chain specialises in providing aesthetic and wellness services to the masses. It also manufactures and distributes a range of skin and body care products.[18][19]

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gollark: I wouldn't. Base standard of living is... probably somewhat higher maybe, and there are more advancement opportunities.
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gollark: However, gladiators who had nice stuff going on *were not the majority*.

References
  1. "Novena Global Lifecare Group's betting on aesthetics". SGSME.SG. 2018-03-12. Retrieved 2018-06-20.
  2. "Roulette spin leads cousins to leave jobs, now they run Asia's largest medical aesthetics chain | The Peak Singapore - Your Guide to The Finer Things in Life". The Peak Singapore - Your Guide to The Finer Things in Life. 2018-01-03. Retrieved 2018-06-20.
  3. "Novena Global Lifecare plans Taiwan IPO to raise US$150 million - Reuters". Retrieved 2018-06-20.
  4. hermesauto (2017-07-31). "Singapore-based Novena Global Lifecare goes for US$150m Taiwan IPO". The Straits Times. Retrieved 2018-06-20.
  5. "PressReader.com - Connecting People Through News". www.pressreader.com. Retrieved 2018-06-20.
  6. http://www.straitstimes.com/business/companies-markets/cousins-who-gave-up-banking-for-beauty-sector
  7. https://www.biospectrumasia.com/news/54/9261/novena-global-lifecare-goes-for-us150m-taiwan-ipo.html
  8. http://thepeakmagazine.com.sg/interviews/roulette-spin-leads-cousins-leave-jobs-now-run-asias-largest-medical-aesthetics-chain/
  9. http://thepeakmagazine.com.sg/interviews/roulette-spin-leads-cousins-leave-jobs-now-run-asias-largest-medical-aesthetics-chain/
  10. http://www.straitstimes.com/business/companies-markets/novena-global-buys-4-singapore-eyecare-clinics-majority-stake-in-taiwans
  11. http://www.straitstimes.com/business/companies-markets/novena-global-buys-4-singapore-eyecare-clinics-majority-stake-in-taiwans
  12. https://www.dealstreetasia.com/stories/novena-global-lifecare-group-taiwan-stock-exchange-150m-ipo-79110/
  13. http://www.businesstimes.com.sg/companies-markets/novena-global-buys-4-singapore-eyecare-clinics-majority-stake-in-taiwans-hexin
  14. http://www.healthinvestorasia.com/ShowArticle.aspx?ID=3631&AspxAutoDetectCookieSupport=1
  15. http://www.sgsme.sg/news/towkays/cousins-aim-create-homegrown-singapore-brand-can-go-global
  16. http://www.businesstimes.com.sg/lifestyle/wellness/just-right-for-flight
  17. https://www.dealstreetasia.com/stories/chinas-cederlake-makes-investment-in-sgs-novena-global-89514/
  18. http://www.businesstimes.com.sg/magazines/the-sme-magazine-januaryfebruary-2018/facing-the-future
  19. http://www.straitstimes.com/singapore/causes-briefs-aesthetic-clinic-raises-money-for-st-school-pocket-money-fund
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