Business
Basel Medical Group Ltd Enters into US$ 1.0 Billion Bitcoin (BTC) Purchase Agreement
Singapore, May 22, 2025 (GLOBE NEWSWIRE) -- Basel Medical Group Ltd (Nasdaq: BMGL or the “Company”), today announced that it has entered into a purchase
About this update from Basel Medical Group Ltd
[{"type":"text","content":"Singapore, May 22, 2025 (GLOBE NEWSWIRE) -- Basel Medical Group Ltd (Nasdaq: BMGL or the “Company”), today announced that it has entered into a purchase agreement with a consortium of Bitcoin (BTC) holders for the purchase by the Company of up to 10,000 BTC (with current market value of approximately US$1.0 billion) by issuing of its ordinary shares. This purchase will diversify its treasury reserves to a very large extent, while maintaining its core focus on medical services expansion in the Asia Pacific Region. This is a major strategic financial initiative to strengthen the Company’s balance sheet and support its aggressive expansion across Asia’s high-growth healthcare markets. About Basel Medical Group Ltd Basel Medical is a Singapore-based provider of orthopedic and trauma services, sports medicine and surgery, orthopedic procedures, as well as neurosurgical treatments. Our operations are based in Singapore, with our clinics being at 6 Napier Road, Unit #02-10/11 and Unit #03-07, Gleneagles Medical Centre. Over the last 20 years, our group has forged strong and lasting relationships with a large base of corporations, in particular those in the construction, marine and oil & gas industries, which underpin our robust business model. As an orthopedic service provider in Singapore with a track record of over 20 years, we are well-positioned to ride the wave of growth opportunities in the private healthcare industry in Singapore and across Southeast Asia driven by ageing populations, rising income levels, increasing private insurance coverage, government effort and expenditure on healthcare, growing sports participation rate and Singapore’s position as a premium destination for healthcare services in Asia. Our management and medical practitioner team comprises a roster of orthopedic and neurosurgery specialists, corporate finance and healthcare partnership specialists. Basel Medical Group Ltd serves as the holding company of our group and we conduct our operations through our operating subsidiaries based in Singapore. For more information, please visit the Company’s website: www.baselmedical.com. Forward-Looking Statements Certain statements in this announcement are forward-looking statements, which involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future...