From Yahoo Finance: 2025-05-16 17:43:00

Basel Medical Group Ltd in Singapore plans to acquire $1 billion in Bitcoin to diversify its treasury and pursue growth in Asian healthcare markets. The deal involves a share-swap with crypto investors and institutions, making it one of the largest Bitcoin purchases by a healthcare company in the region. CEO Dr. Darren Chhoa sees this move as a way to strengthen the company financially and protect against economic volatility.

Despite the $1 billion Bitcoin acquisition plan, Basel Medical Group (BMGL) shares dropped over 13% to $2.28 on May 16. The company aims to finalize the deal this quarter pending regulatory approval, signaling a broader trend of corporations embracing cryptocurrency. Another healthcare company, KindlyMD, recently merged with Nakamoto to incorporate Bitcoin into its financial strategy.

Basel Medical Group, known for its orthopaedic, trauma, sports medicine, and neurosurgery services at Gleneagles Medical Centre in Singapore, is adapting to the digital asset trend by investing in Bitcoin. The strategic move aims to support the company’s expansion plans, including acquiring other medical businesses, opening new clinics, and enhancing services. The stock ticker for BMGL is currently priced at 2.26 USD, reflecting a 14.06% decrease in the last 24 hours according to Yahoo Finance.

Read more: Health care company’s shares tumble after ambitious plan