4 June 2024
Under the Radar: From the offshore and shipyarding business to becoming a healthcare player – Catalist-listed AJJ’s transformation into the burgeoning medtech sector
It is all about advancing the healthcare landscape in the region as we speak to one of the leading providers of integrated medical technology solutions in Singapore and Southeast Asia.
Listed on the Catalist board of the Singapore Exchange, AJJ Medtech Holdings offers over 6,000 products ranging from healthcare consumables such as catheters to medical devices like blood glucose monitoring systems.
The company also offers more sophisticated equipment that can be used for the diagnostic imaging of cancer, as well as dental care-related devices. Some of its customers include public hospitals in Singapore, as well as players within the private healthcare landscape.
But what is interesting about AJJ Medtech Holdings was that the firm was formerly known as OEL Holdings up until February this year. And OEL Holdings wasn’t always in the healthcare space.
In fact, OEL Holdings, which was founded back in 1984 in Singapore, was in the offshore shipyard business until just five years ago in 2019. That was when a new management team was handed the reins of the company to break into the growing medtech sector.
The new management team had seen an opportunity in the rising demand for medical devices, and believed that taking over a publicly listed firm like OEL Holdings and pivoting it into a medical business was an efficient way to gain industry recognition and grow quickly.
But fast forward to today, how has the new management’s perceived "reverse takeover" of OEL Holdings’ helped it deepen its roots in the regional healthcare landscape and tap public capital?
Also, where are the bright spots for the firm looking ahead as the population in the region ages, and as countries like Singapore put in additional emphasis on community care?
On Under the Radar, The Evening Runway’s finance presenter Chua Tian Tian posed these questions to  Yulei Zhang, Chief Strategy Officer, AJJ Medtech and Tan Wei Jie, Director of Business Development, AJJ Medtech.

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