Foundation Healthcare

What Foundation Healthcare does

Foundation Healthcare Holdings Pte. Ltd., incorporated in Singapore in 2022 and listed on the SGX Mainboard under ticker FHH on July 8, 2026, operates Singapore's largest private multi-specialty healthcare platform with 108 in-house medical specialists across 16 specialties practising at 74 specialist clinics and four owned medical centres. The medical centre footprint includes Foundation Ambulatory Centre (Novena), which commenced operations in February 2026 as the largest standalone day surgery centre in Singapore by square footage, Foundation Ambulatory Centre (Orchard) under development, Foundation Imaging (diagnostic imaging), Care IVF (fertility services), and the recently launched Foundation Oral Maxillofacial Surgery Centre featuring Singapore's first autonomous dental implant surgical robot developed by Beijing Yakebot Technology. The company reports an FY2025 pro forma revenue of S$265.9 million (32.0% YoY growth) and pro forma adjusted EBITDA of S$99.1 million at a 37.3% margin, holding approximately 7.2% market share of Singapore's private specialist market by revenue.

The company operates a platform-plus-three-verticals architecture combining specialist services, owned medical facilities, and its proprietary AVA® technology platform. AVA® functions as an end-to-end digital infrastructure layer connecting patients, healthcare providers, insurers, third-party administrators and medical facilities, handling specialist referrals, appointment bookings, pre-authorisation, claims adjudication and care coordination. The platform is integrated with major insurer panels including AIA, Great Eastern, HSBC Life and Prudential, as well as corporate healthcare panels such as Alliance Medinet, Fullerton, Whitecoat, MHC and iXchange, providing the company with embedded distribution. Foundation Healthcare has executed 38 specialist practice acquisitions since incorporation, scaling from 67 specialists at end-2023 to 108 at March 2026, funded initially by a S$150 million investment from SeaTown Holdings (a Temasek-owned private equity firm) in March 2023 and subsequently by a S$242 million IPO in July 2026 that delivered a market capitalisation of approximately S$1 billion.

The business model is principally transaction-based: revenue is generated through specialist consultations, procedures, diagnostics, and day surgery across the network, with patients paying directly or through insurance reimbursement, and recurring platform-level potential from deeper AVA® adoption across ecosystem stakeholders. Distribution combines direct-to-patient marketing (website, social media on Instagram, Facebook, YouTube, LinkedIn and TikTok), a WhatsApp-based Patient Assistance Centre for navigation, insurance panel acceptance, and corporate panel partnerships. The company is planning regional expansion into Kuala Lumpur and Hong Kong via acquisitions or greenfield projects, leveraging insurer partner relationships in those markets.

Name

Foundation Healthcare

Legal name

Foundation Healthcare Holdings Pte. Ltd.

Website

https://foundationhealthcare.sg

Company type

Public

Founded year

2022

Operating status

Operating

Headcount range

101–250 employees

Short description

Foundation Healthcare operates Singapore's largest private multi-specialty healthcare platform, with 108 specialists across 16 specialties, 74 specialist clinics, four medical centres, and the proprietary AVA® coordination platform serving insured and self-paying patients.

Ownership category

akta.pro rank

Product category

Private Multi-Specialty Healthcare Services

NAICS

Offices of Physicians (62111), Offices of Other Health Practitioners (6213), Diagnostic Imaging Centers (621512)

SIC

Services-Offices & Clinics Of Doctors Of Medicine (8011), Services-Health Services (8000), Hospital & Medical Service Plans (6324)

akta.pro primary industry

Virtual Specialty Care Programs (Payer-Sponsored) (HLALACAD)

akta.pro secondary industry

Healthcare Clinical Direct Hire (Nursing/Allied/Physicians) (BPACAFAH)

Keywords

• Private specialist healthcare
• Multi-specialty medical services
• Day surgery centres
• Healthcare technology platform
• Specialist clinic network

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Supply Chain, Infrastructure

Revenue model

1. Specialist Consultation and Treatment Services: Revenue generated from specialist consultations, medical procedures, and treatments provided through the network of 74 specialist clinics across 16 specialties. Patients pay for services directly or through insurance reimbursement.
2. Medical Centre Services: Revenue from outpatient procedures and diagnostics performed at four medical centres including Foundation Ambulatory Centre (Novena), Foundation Ambulatory Centre (Orchard), Foundation Imaging, and Care IVF. Supports migration of procedures from higher-cost hospital inpatient settings to lower-cost outpatient facilities.
3. Technology Platform Services: AVA® platform facilitates administrative processes including pre-authorisation, claims adjudication and care coordination. The company believes increasing adoption of AVA® will deepen integration across healthcare ecosystem stakeholders and has potential to create additional monetisation opportunities as adoption expands.

Pricing tiers

Go-to-market motion3 records

Distribution channels4 records

Marketing channels6 records

Core offering

Foundation Healthcare operates Singapore's largest private multi-specialty healthcare platform, delivering specialist consultations, medical procedures and diagnostics through a network of 108 specialists across 16 specialties practising at 74 specialist clinics and four medical centres. Revenue is generated from patient fees for specialist services, outpatient procedures at ambulatory centres, fertility treatment at Care IVF, diagnostic imaging at Foundation Imaging, and oral and maxillofacial surgery. The proprietary AVA platform provides digital infrastructure for referrals, pre-authorisation, claims adjudication and care coordination across the patient journey.

Product overview

Foundation Healthcare is Singapore's largest private multi-specialty healthcare platform operating a platform-plus-three-verticals architecture: (1) Specialists — a network of 108 in-house medical specialists across 16 specialties practising at 74 specialist clinics; (2) Medical Centres — owned facilities including Care IVF, Foundation Imaging, Foundation Ambulatory Centre (Novena, operational February 2026, the largest standalone day surgery centre in Singapore), Foundation Ambulatory Centre (Orchard, upcoming), and specialty centres including the Foundation Oral Maxillofacial Surgery Centre and Foundation Specialist Centre; and (3) Technology — the proprietary AVA platform serving as an end-to-end digital infrastructure layer connecting patients, providers, insurers, and third-party administrators to streamline referrals, bookings, pre-authorisation, claims, and care coordination. The Patient Assistance Centre provides additional service navigation support. The company went public via SGX Mainboard IPO in July 2026.

Differentiator

Problem solved

Functional benefit

Brands

• AVA: Proprietary end-to-end healthcare technology platform connecting patients, healthcare providers, insurers, third-party administrators and medical facilities for administrative tasks, information sharing and workflow automation.
• Foundation Oral Maxillofacial Surgery Centre

Products and services

• Specialists Network Network of 108 in-house medical specialists across 16 medical specialties practising across 74 specialist clinics, providing specialist medical services across Singapore.
• Care IVF Fertility and IVF medical centre providing comprehensive reproductive health services to patients seeking fertility treatment.
• Foundation Imaging Medical imaging centre providing advanced imaging technologies including MRI and CT scans for diagnostic purposes.
• Foundation Ambulatory Centre (Novena) Day surgery centre, the largest standalone day surgery centre in Singapore by square footage, enabling outpatient procedures outside hospital settings. Commenced operations February 2026.
• Foundation Ambulatory Centre (Orchard) Ambulatory care centre under development in the Orchard area of Singapore. Listed as 'Coming soon' on the company website.
• Foundation Oral Maxillofacial Surgery Centre Specialist centre at Farrer Park Medical Centre combining oral and maxillofacial surgeons with advanced digital planning and Singapore's first autonomous dental implant surgical robot. Established in partnership with Beijing Yakebot Technology Co., Ltd. with strategic collaboration with NUS Faculty of Dentistry.
• Foundation Specialist Centre Multi-specialty specialist centre providing coordinated specialist care services across Foundation Healthcare's specialty network.
• Patient Assistance Centre WhatsApp-based patient assistance centre providing guidance on the healthcare journey, helping patients navigate finding specialists, understanding conditions, managing referrals and appointments, and dealing with insurance coverage and costs.
• AVA Platform Proprietary end-to-end healthcare technology platform connecting patients, healthcare providers, insurers, third-party administrators and medical facilities. Streamlines administrative tasks including specialist referrals, appointment bookings, pre-authorisation, claims adjudication and care coordination. Facilitates information sharing and workflow automation across the patient journey. Includes the AI-powered 'Ask Ava' chatbot.

Quantifiable outcome

• 32.0% year-on-year revenue growth in FY2025 to S$265.9 million
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability2 records

Feature2 records

Partnerships

Five partnerships are on record, tiered core.

• Beijing Yakebot Technology Co., Ltd.coreTechnology or Integration · 25 July 2026Partnership to launch Singapore's first autonomous dental implant surgical robot at Foundation Oral Maxillofacial Surgery Centre. Yakebot's precision dental robotic system designed to elevate safety, accuracy, and clinical consistency in implant surgery.
• National University of Singapore Faculty of DentistrycoreStrategic or Co-development Partner · 25 July 2026Strategic collaboration at Foundation Oral Maxillofacial Surgery Centre to advance education, research and responsible clinical adoption of robotic implant surgery in Singapore. Collaboration brings together clinical practice, academia and industry.
• AmilicoreStrategic or Co-development Partner · 19 February 2026Strategic partnership to advance microbiome medicine in Singapore. Collaboration to integrate microbiome health services within Foundation Healthcare's specialist network.
• UOBcoreStrategic or Co-development Partner · 9 February 2026Strategic partnership to extend healthcare management solutions in Singapore. UOB and Foundation Healthcare collaborating to support healthcare providers with integrated financial and healthcare management solutions.
• Smarter HealthcoreTechnology or Integration · 9 March 2023Local healthtech firm providing technology capabilities for Foundation Healthcare's regional private tech-enabled healthcare ecosystem development. Technology partnership leveraging Smarter Health's digital health solutions.

Scale indicators11 records

Recent moves9 records

Expansion highlights5 records

Direct peers

• Raffles Medical Group: Singapore-listed private healthcare operator providing multi-specialty medical services through Raffles Hospital and a network of clinics. Directly comparable to Foundation Healthcare as a private multi-specialty platform in Singapore competing for the same specialist talent, insurance panels and corporate clients.
• Thomson Medical Group: Singapore-listed private healthcare provider operating Thomson Medical Centre and specialist services, with regional presence. Comparable as a Singapore-listed private multi-specialty player with hospital, specialist and outpatient offerings targeting similar insured and corporate patients.
• Healthway Medical Group: Singapore private healthcare group operating a network of specialist clinics and medical centres. Comparable as a Singapore-based multi-specialty private provider competing for the same specialist pool and insurance panel relationships.
• Singapore Medical Group: Singapore-listed private specialist healthcare group operating specialist clinics and centres across multiple disciplines. Directly comparable given its focus on consolidating specialist practices and operating medical centres in Singapore, mirroring Foundation Healthcare's roll-up model.
• Pacific Healthcare Holdings: Singapore private healthcare group operating specialist centres and clinics across multiple disciplines. Comparable as a multi-specialty private healthcare operator in Singapore with overlapping specialist service offerings.

Regional players

• KPJ Healthcare: Malaysia's largest private healthcare operator with a network of specialist hospitals. Comparable as a private multi-specialty healthcare provider in the region and a potential competitor or partner as Foundation Healthcare expands into Kuala Lumpur.
• Q&M Dental Group: Singapore-listed private dental healthcare group with the largest network of dental clinics in Singapore and regional presence. Comparable as a Singapore-listed specialist consolidator with similar insurance panel and clinic-network business model, focused on the dental specialty that Foundation Healthcare is expanding into via its robotic implant centre.

Broad incumbents

• IHH Healthcare: Asia's largest private healthcare group operating Mount Elizabeth, Gleneagles, Pantai and other hospital brands across Malaysia, Singapore, Turkey and India. Comparable as a multi-specialty private healthcare operator in Singapore with overlapping specialist services, insurance partnerships and corporate clientele.
• Ramsay Health Care: Global private hospital and specialist healthcare operator with operations across Australia, Europe and Asia. Comparable as a large-scale multi-specialty private healthcare platform pursuing similar specialty consolidation, outpatient migration and digital health strategies.
• HCA Healthcare: Largest US for-profit private healthcare operator with hospitals, surgery centres and physician networks. Comparable as a publicly listed multi-specialty private healthcare platform that has scaled through physician acquisition and outpatient facility expansion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@Foundation_Healthcare
• Facebookfacebook.com/foundationhealthcare.fhh
• LinkedInlinkedin.com/company/foundation-healthcare-holdings
• Instagraminstagram.com/foundation_healthcare
• TikToktiktok.com/@foundation_healthcare

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries1 record

Funding overview

Funding rounds2 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Foundation Healthcare