Health care company's shares tumble after ambitious plan

Anushka Basu

Fri, May 16, 2025, 2:43 PM 2 min read

Basel Medical Group Ltd, a Singapore-based healthcare company, announced connected May 16 that it has entered into exclusive negotiations to get $1 cardinal successful Bitcoin, arsenic portion of an effort to diversify its treasury and supply liquidity to its equilibrium sheet.

The volition down the program is to alteration the institution to prosecute assertive maturation plans successful the rapidly increasing healthcare markets successful Asia, portion remaining focused connected its halfway aesculapian services.

The institution is not paying up beforehand successful cash. Instead, it is readying to bash a share-swap woody with affluent crypto investors and institutions. If the woody goes done it would beryllium 1 of the largest Bitcoin purchases by a healthcare institution successful the region.

The institution says the enactment volition springiness it much fiscal musculus to acquisition different aesculapian businesses, unfastened caller clinics and grow its services. Owning Bitcoin, they say, volition assistance them support their wealth against large swings successful the planetary economy.

“This $1 cardinal woody volition assistance america turn accelerated portion keeping our finances stable,” said CEO of Basel Medical Group, Dr. Darren Chhoa.

Basel Medical works retired of Singapore’s Gleneagles Medical Centre and focuses connected orthopaedic, trauma, sports medicine and neurosurgery. The displacement toward integer assets is portion of a broader inclination of corporations turning to cryptocurrency arsenic a strategical fiscal product.

At property time, BMGL, the banal ticker for Basel Medical Group, is priced astatine 2.26 USD, down by implicit 14.06% successful the past 24 hours, arsenic per Yahoo Finance.

The institution hopes to implicit the woody this quarter, taxable to regulatory approval. The determination is simply a motion that Bitcoin is nary longer conscionable for tech oregon fintech firms. Another healthcare institution KindlyMD merged with Nakamoto, a Bitcoin treasury steadfast to see Bitcoin arsenic portion of its strategy.