Adamas Finance Asia Limited New Investment (0068I)
March 19 2018 - 2:00AM
UK Regulatory
TIDMADAM
RNS Number : 0068I
Adamas Finance Asia Limited
19 March 2018
ADAMAS FINANCE ASIA LIMITED
("ADAM" or the "Group")
NEW INVESTMENT
First Investment made by the New Manager
Adamas Finance Asia Limited ("ADAM"), the London quoted
pan-Asian diversified investment vehicle, is pleased to announce
its investment in a new project, DocDoc Pte. Ltd. ("DocDoc"). The
investment is in line with ADAM's revised strategy, following the
appointment of Harmony Capital as the new manager in May 2017,
which aims to provide investors with a diverse portfolio of
pan-Asian income producing assets with capital gain potential.
The Directors believe that DocDoc is Asia's leading patient
empowerment company. The company leverages proprietary data and
clinical informatics across a network of physicians and hospitals
to support patients to find high quality medical care.
Headquartered in Singapore, DocDoc connects and represents an
extensive healthcare network with over 23,000 physicians, 700
clinics and 100 hospitals. DocDoc addresses a significant unmet
need in the marketplace for patient empowerment, resulting in
efficiently priced treatments, better outcomes and improved
experiences for patients across Asia.
The benefits of DocDoc's proprietary database, algorithms and
data models, combined with its business and customer service
processes, are beneficially impacting an underserved need in the
health insurance sector as evidenced by the execution of agreements
with several of the leading insurers in the region.
ADAM was the lead investor in DocDoc's latest US$5.45M round of
investment via a US$2.0M subscription to a convertible bond
offering.
ADAM's Chairman, John Croft, commented on the new
investment:
"We are delighted to make our first investment following the
change to our investment policy and a series of disposals in 2017.
The transformation of the ADAM portfolio is underway and the DocDoc
investment represents an important step in reshaping the portfolio.
DocDoc is an exciting next generation digital health platform,
adeptly fulfilling patient demand and supported by partnerships
with leading players such as the Ping An Group and Prudential."
DocDoc's Co-Founder and CEO, Cole Sirucek, commented on the new
investment:
"We are thrilled to welcome ADAM to the DocDoc family. Their
investment has come at a most opportune time as we scale our
value-added doctor discovery service in conjunction with the
region's largest insurance companies. The ADAM and Harmony Capital
team have done a great job helping us put this financing together
and we look forward to them adding significant value going
forward."
Enquiries:
Adamas Finance Asia
Limited +44 (0) 1825
John Croft 830587
WH Ireland Limited -
Nominated Adviser
Tim Feather +44 (0) 113
James Sinclair-Ford 394 6600
finnCap Limited - Broker
William Marle +44 (0) 20
Grant Bergman 7220 0500
Buchanan - Financial
PR
Charles Ryland +44 (0) 20
Henry Wilson 7466 5000
About Adamas Finance Asia
ADAM is a London quoted investment company focusing on
delivering long-term income and capital growth to shareholders
through a diverse portfolio of pan-Asian investments. It aims to
provide uncorrelated returns through a combination of capital
growth and dividend income from a broad spectrum of national
geographies and asset classes.
The company's investment manager, Harmony Capital, which has a
dedicated team with real Asian expertise, will focus on the
strategy of creating income and capital growth. Harmony is sourcing
predominately private opportunities and has created a strong
pipeline. Income generating assets include investments in property,
mining, pharmaceuticals, and telecoms across Asia.
About DocDoc
DocDoc is Asia's leading patient empowerment company. Operating
in 8 countries with more than 23,000 doctors, DocDoc enables
patients to find the right care at the right time. The company
combines deep expertise in clinical informatics, artificial
intelligence and healthcare quality assessment to deliver simple
yet powerful patient solutions.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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