Basel Medical Group Launches $1b Bitcoin Acquisition Strategy

Basel Medical Group Ltd has entered exclusive negotiations to acquire US$1 billion worth of Bitcoin in a strategic move to strengthen its balance sheet and diversify its treasury reserves.

The announcement, made on May 16, marks a significant shift for the Singapore-based healthcare company, as it looks to blend digital asset investment with aggressive growth in Asia’s medical services sector.

The company is in advanced talks with a consortium of institutional investors and high-net-worth individuals to complete the acquisition via a share-swap deal.

If finalized, this would be among the largest crypto acquisitions by a publicly listed healthcare firm in the Asia-Pacific region.

According to BMGL CEO Dr. Darren Chhoa, the transaction is expected to enhance the company’s financial flexibility, enabling rapid deployment of capital for mergers, acquisitions, and infrastructure investments across emerging markets in Asia.

“This US$1 billion financial transformation will give us unprecedented capacity to execute our Asia growth strategy while maintaining conservative financial management,” Chhoa said.

The capital infusion is expected to establish BMGL as one of the best-capitalized healthcare providers in the region, while creating a diversified asset base designed to weather economic volatility. 

Earlier this week, Heritage Distilling finalized a policy to accept and hold Bitcoin (BTC) and Dogecoin as part of its treasury strategy. Similarly, the company wants to began accepting cryptocurrencies as payment and treating them as long-term assets to diversify sales and reach a broader customer base.