Econ Healthcare Asia

What Econ Healthcare Asia does

Econ Healthcare Asia, founded in 1987 by Mr. Ong Chu Poh in Singapore, is a leading private eldercare services provider operating across Singapore, Malaysia, and China. The group runs an integrated care ecosystem built around residential nursing homes (ECON Medicare Centre and Nursing Home, 9 in Singapore, 2 in Malaysia, 2 in China), supplemented by home care, day care through the AIC-appointed Integrated Home and Day Care (IHDC) programme, rehabilitation (PhysioWorks, 2 centres), Traditional Chinese Medicine (3 clinics, TCMPB-accredited practitioners), senior activity centres (ECONLIFE! Hubs), caregiver training (ECON CareSkill Training Centre), and ambulance and medical transport through the 2023 acquisition of Ambulance Medical Service (57 ambulances). Underlying technology is primarily operational: facility management across a multi-site footprint, consumer-facing websites (econhealthcare.sg, econhealthcare.com) for enquiry and service information, and automation features such as the robotic kitchen and intelligent eldercare panel at the Chongqing facility. AI/ML is not a disclosed capability.

Revenue is generated through recurring monthly billing across residential, day care, home care, and rehabilitation services, supplemented by professional services revenue from caregiver training and subscription transport revenue from ambulance services. Pricing is not publicly disclosed and is quote-based by facility, room type, and care level, with material reliance on Singapore government subsidy frameworks (AIC IHDC, CareShield Life, eldercare subsidies, MOH BOL Scheme appointments). Go-to-market is sales-led via direct outreach, phone enquiries, government referrals, and digital channels (Facebook, Instagram, LinkedIn). In March 2026, TPG combined Econ Healthcare with Orange Valley Nursing Homes and Ambulance Medical Service under the One Aged Care platform, creating a group of 16 nursing homes with over 2,400 beds across Singapore and Malaysia; the public listing reference (SGX: EHG) and ownership details present some inconsistency in the source data and should be reconciled before investment decisions.

Name

Econ Healthcare Asia

Legal name

ECON Healthcare (Asia) Limited

Website

https://econhealthcare.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Econ Healthcare Asia is a Singapore-headquartered private eldercare operator founded in 1987, running 12 nursing homes and a full continuum of residential, home, day, rehabilitation, TCM, and ambulance services across Singapore, Malaysia, and China, now consolidated under TPG's One Aged Care platform.

Ownership category

akta.pro rank

Product category

Eldercare Services

NAICS

Nursing Care Facilities (Skilled Nursing Facilities) (62311), Nursing and Residential Care Facilities (623), Assisted Living Facilities for the Elderly (623312), Home Health Care Services (6216)

SIC

Services-Skilled Nursing Care Facilities (8051), Services-Nursing & Personal Care Facilities (8050), Services-Home Health Care Services (8082), Services-Health Services (8000)

akta.pro primary industry

Large Campus / Multi-Building Assisted Living Communities (HLADABAG)

akta.pro secondary industries

Assisted Living with Memory Care (Mixed Campus) (HLADABAB), 24/7 Rotating Shift In-Home Care (Multiple Caregivers) (HSABAHAA), Care Navigation & Service Coordination (Medical, Social, Community) (HSABAIAB), Dementia Personal Care (ADLs) Support (HSABAEAB)

Keywords

• Residential nursing care
• Eldercare services
• Home care services
• Rehabilitation therapy
• Senior day care

Headquarters

HQ city

Singapore

HQ country

Singapore

HQ region

Asia

Offices15 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

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

Revenue model

1. Residential Nursing Home Care: Long-term and short-term residential care services at owned and operated nursing homes across Singapore, Malaysia, and China. Room fees and care charges are billed on a recurring basis.
2. Integrated Home and Day Care (IHDC): Day care and home-based care services provided under government programmes (AIC Singapore). Combines day care, community rehabilitation, and nursing care under one facility.
3. Home Care Services: Home-based nursing, personal care, and rehabilitation services for individuals who have recovered or improved after hospital discharge and require continued care at home.
4. Rehabilitation Services (PhysioWorks): Physiotherapy and occupational therapy services offered in nursing homes, selected ECONLIFE! Hubs, and home settings. Two PhysioWorks outpatient and inpatient centres operate in Singapore.
5. Traditional Chinese Medicine (ECON TCM): TCM clinics offering preventive and treatment healthcare services, integrated with western medicine approaches. Three TCM clinics operate within the group, with acupuncture services also provided in nursing homes.
6. Caregiver Training (ECON CareSkill Training Centre): Caregiver training programmes accredited by the National Resuscitation Council and ITE Singapore, and approved by the Agency for Integrated Care under the Caregivers Training Programme.
7. Senior Activity Centre (ECONLIFE! Hub): Community-based centres offering social activities, befriending, health education, and wellness programmes for seniors in the community. Two ECONLIFE! Hubs operate in Singapore neighbourhoods.
8. Ambulance and Medical Transport Services: Emergency ambulance and medical transport services through the acquired Ambulance Medical Service subsidiary, providing 24/7 ambulance transport for emergency and non-emergency cases and medical standby at events.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

ECON Healthcare Asia operates an integrated ecosystem of eldercare services centred on residential nursing homes, complemented by home care, day care, rehabilitation (PhysioWorks), Traditional Chinese Medicine clinics (ECON Chinese Medicine), senior activity centres (ECONLIFE! Hub), caregiver training (ECON CareSkill Training Centre), and emergency ambulance and medical transport services (Ambulance Medical Service) across Singapore, Malaysia, and China. The group delivers 24/7 nursing care, rehabilitation, specialised medical care (dementia, Parkinson's, stroke, cancer, palliative), and ambulance transport to elderly individuals and their families, both on a private-pay and government-subsidised basis.

Product overview

ECON Healthcare Group is a leading private eldercare services provider in Singapore and Malaysia with over 30 years of experience, operating an integrated ecosystem of care. The company's portfolio includes residential nursing homes (ECON Medicare Centre and Nursing Home), home care services, day care (IHDC), rehabilitation (PhysioWorks), Traditional Chinese Medicine (ECON Chinese Medicine), senior activity centres (ECONLIFE! Hub), and caregiver training (ECON CareSkill Training Centre). The company also acquired Ambulance Medical Service in 2023 to add ambulance and medical transport capabilities. In 2026, TPG combined ECON Healthcare with Orange Valley Nursing Homes and Ambulance Medical Service under the One Aged Care platform. Services span across 9 nursing homes in Singapore, 2 in Malaysia, and 2 in China, with specialized care offerings including dementia, Parkinson's, stroke, cancer, and palliative care.

Differentiator

Problem solved

Functional benefit

Brands

• ECONLIFE! Hub: Senior Activity Centre - first private operator to manage and operate senior activity centres in Singapore, providing community befriending, health education, and healthy aging programmes
• ECON Chinese Medicine
• PhysioWorks
• ECON CareSkill Training Centre
• ECON Medicare Centre and Nursing Home

Products and services

• ECON Medicare Centre and Nursing Home Residential nursing home facilities providing long-term and short-term residential care for seniors, including long-term and short-term care, stroke management, dementia care, chronic disease management, and post-surgery care across 12 nursing homes in Singapore, Malaysia, and China with an integrated East-meets-West medicine approach.
• Home Care Services Personalised home-based care services for seniors and individuals requiring care, including personal care, skilled nursing services, and rehabilitation. Supports discharge planning from nursing homes and respite care for caregivers of elderly individuals who prefer to age in place.
• PhysioWorks Rehabilitation Services Rehabilitation services under the PhysioWorks brand offering physiotherapy, occupational therapy, neurological and dementia rehabilitation, and musculoskeletal therapy, with 2 outpatient and inpatient centres in Singapore plus home-based rehabilitation services.
• Integrated Home and Day Care (IHDC) Combined day and home care services for eligible persons under Singapore's Agency for Integrated Care (AIC) programme, integrating day care, community rehabilitation, and nursing care delivered through ECON nursing homes and senior activity centres.
• ECON Chinese Medicine (TCM Clinics) Traditional Chinese Medicine clinics operated under the ECON Chinese Medicine brand offering preventive and treatment healthcare services, acupuncture, and home consultation services with TCMPB-accredited practitioners, integrating Eastern and Western medicine philosophies in rehabilitation and wellness. Operates 3 TCM clinics across ECON facilities.
• ECONLIFE! Hub (Senior Activity Centre) Senior activity centres providing community befriending, health education, and programmes for healthy ageing; the first private operator to manage and operate senior activity centres in Singapore under this model, with 2 ECONLIFE! Hubs in Yung Kuang and Sengkang.
• ECON CareSkill Training Centre Caregiver training programmes accredited by the National Resuscitation Council (NRC) Singapore and Institute of Technical Education (ITE) Singapore, and approved by the Agency for Integrated Care (AIC) under the Caregivers Training Programme, equipping professional and family caregivers with skills to provide eldercare.
• Ambulance Medical Service Emergency ambulance and medical transport services acquired from Ambulance Medical Service Pte. Ltd. for S$8.8 million in March 2024, managing a fleet of 57 ambulances providing 24/7 emergency and non-emergency transport services, medical standby, and event coverage in Singapore.
• Dementia Care Service Specialised care service for seniors with dementia, including cognitive support, neurological rehabilitation, and behavioural management delivered within nursing homes and ECON care centres.
• Parkinson's Care Service Specialised care service for seniors with Parkinson's disease, providing targeted support and therapeutic interventions within ECON nursing homes and care centres.
• Stroke Care Service Specialised care service for stroke patients, including stroke management, neurological rehabilitation, and recovery support delivered within ECON nursing homes.
• Cancer Care Service Specialised oncology care service for seniors, providing medical support, personal care, and supportive services during cancer treatment and recovery.
• Palliative Care Service End-of-life care service focused on comfort, dignity, and quality of life for seniors and their families, delivered within ECON nursing homes.

Quantifiable outcome

• Over 8,000 families served since founding
• +2 more outcomes

Named customers2 records

Segments6 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Eight partnerships are on record, tiered core, major and minor.

• Ambulance Medical Service Pte. Ltd.coreStrategic or Co-development Partner · 29 November 2023Econ Healthcare Asia signed a conditional sale and purchase agreement to acquire all issued and paid-up shares of Ambulance Medical Service Pte. Ltd. for S$8.8 million. AMS is an emergency ambulance and medical transport operator in Singapore with over 15 years of expertise, managing a fleet of 57 ambulances as of November 2023. The acquisition strengthens ECON's suite of healthcare services and ecosystem of care. Completed in March 2024.
• Joint Venture Partner in ChinamajorStrategic or Co-development Partner · 1 January 2020ECON Healthcare signed a joint venture agreement with its joint venture partner in China to operate a nursing home in Chongqing, China. This led to the establishment of the Chongqing Nursing Home in 2021, located in the Jiefangbei area of Yuzhong District.
• Chongqing Civil Affairs BureaumajorStrategic or Co-development Partner · 1 January 2018ECON Healthcare signed a memorandum of understanding with the Chongqing Civil Affairs Bureau for collaboration in operation management, medical care and nursing, planning and design, and educational training relating to eldercare services in Chongqing, China.
• Agency for Integrated Care (AIC) SingaporecoreStrategic or Co-development PartnerECON Healthcare is an approved training provider for the Caregivers Training Programme under AIC Singapore, which aims to equip family members with necessary skills to support ageing-in-place for senior family members. ECON is also appointed by AIC to provide Integrated Home and Day Care (IHDC) services to eligible persons.
• National Resuscitation Council (NRC) SingaporeminorStrategic or Co-development PartnerECON CareSkill Training Centre's courses are accredited by the National Resuscitation Council (NRC) Singapore.
• Institute of Technical Education (ITE) SingaporeminorStrategic or Co-development PartnerECON CareSkill Training Centre's courses are accredited by ITE Singapore.
• Singapore Traditional Chinese Medicine Practitioners Board (TCMPB)minorStrategic or Co-development PartnerECON TCM practitioners are accredited by the Singapore Traditional Chinese Medicine Practitioners Board (TCMPB), ensuring compliance with professional standards for TCM practice in Singapore.
• ECON Chinese MedicineminorOthersECON Chinese Medicine (econtcm.com.sg) is a separate brand under ECON Healthcare Group offering TCM services through 3 clinics. Referenced as a related entity within the group ecosystem.

Scale indicators13 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Orange Valley Nursing Homes: Direct peer and now sister company under the TPG-led One Aged Care platform. Operates multiple nursing homes in Singapore providing residential eldercare, dementia, and rehabilitation services — overlapping directly with ECON Medicare Centre and Nursing Home offerings.
• NTUC Health Co-operative: One of the largest community care providers in Singapore, operating nursing homes, senior day care, home care, and rehabilitation services. Directly comparable to ECON across residential and community eldercare segments, and a co-tenant in the AIC IHDC programme.
• St Luke's ElderCare: Singapore-based eldercare operator providing day care, home care, rehabilitation, and nursing home services. Directly comparable to ECON across community-based and residential eldercare, and operates within the same AIC programme framework.
• Allium Healthcare Group: Singapore operator of residential nursing homes and eldercare services including dementia care. Direct peer to ECON's nursing home operations, with comparable focus on premium and mid-market residential eldercare in Singapore.
• Apex Harmony Lodge: Singapore nursing home operator with a specific focus on dementia and psychiatric eldercare. Directly comparable to ECON's dementia care specialisation within residential eldercare, though more narrowly specialised.
• AWWA Community Home for the Elderly: Singapore voluntary welfare organisation operating eldercare services including day care, home care, and residential care. Directly comparable to ECON's community-based eldercare programmes under the AIC framework.

Broad incumbents

• Raffles Medical Group: Large Singapore-listed integrated healthcare provider with hospitals, clinics, and health services. Overlaps with ECON in eldercare-adjacent clinical services and home care, but operates across a much broader portfolio beyond eldercare.
• Thomson Medical Centre: Singapore-listed healthcare group providing hospitals and ancillary services. Comparable as a broad Singapore healthcare incumbent with overlapping interest in eldercare and rehabilitation services, though eldercare is not its core focus.
• Gleneagles Hospital / IHH Healthcare Berhad: One of the largest private hospital groups in Asia with operations across Singapore, Malaysia, and Greater China. Provides healthcare services overlapping with ECON's eldercare and rehabilitation segments at a much larger scale, and operates in the same Singapore/Malaysia geographies.

Emerging players

• Homage (Homage Care Pte. Ltd.): Singapore-based home care platform providing personal care, nursing, and rehabilitation services to seniors at home. Comparable to ECON's home care division and PhysioWorks, but operates a tech-enabled platform model rather than facility-based care.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/econcares
• LinkedInsg.linkedin.com/company/econ-healthcare-group
• Instagraminstagram.com/econcares

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Subsidiaries2 records

Funding overview

Funding rounds

Investors

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

M&A1 record

Investments

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

Frequently asked questions about Econ Healthcare Asia