Hyphens Pharma boosts Singapore market leadership with acquisition of Novem group of companies

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Press Release 

  • Consideration of S$16.28 million for the acquisition of Novem group to be paid in cash and issuance of new shares
  • Proposed Acquisition is earnings accretive and will add new brand principals, products and customers to enhance and enlarge the Group’s revenue and profits
  • Proposed Acquisition is part of the Group’s growth strategy to invest in proprietary brands and will further strengthen the Group’s proprietary brands business segment

Singapore, 9 November 2021 – Hyphens Pharma International Limited (“凯帆药剂国际有限公司”, “Hyphens Pharma”, or the “Company”, and together with its subsidiaries, the “Group”), Singapore’s leading specialty pharmaceutical and consumer healthcare group, is pleased to announce that its wholly-owned subsidiary, Hyphens Pharma Pte. Ltd., has entered into a sale and purchase agreement (“SPA”) with Mr. Ng Kian Peng Albert (“Albert Ng”) and Ms. Lau Jui Fang (collectively, the “Vendors”) to acquire the Novem group of companies1 (“Novem”, the “Target Companies” or collectively, the “Target Group”) for a consideration of S$16.28 million (“Consideration”), to be satisfied with a cash payment and the issuance of new ordinary shares in Hyphens Pharma (“Consideration Shares”) to the Vendors (the “Proposed Acquisition”). The Proposed Acquisition is subject to the fulfilment of the conditions precedent in the SPA.

About Novem

Singapore-based Novem is a leading healthcare-focused distributor of pharmaceutical products, nutraceutical products and medical devices, with a 20-year stable operating track record. The Target Group represents over 40 brand principals mainly across Europe and Asia, and serves over 1,000 active customers including hospitals, polyclinics, specialists and general practitioners. With over 150 products in its portfolio, including proprietary brand of generics and in-house developed nutraceutical products, Novem’s products cater for a variety of diseases and therapeutic areas such as musculoskeletal, cardiology, ophthalmology and general surgery. Through the delivery of its high quality and innovative products, Novem aims to improve community health and wellness standards to address the needs of a growing aging population, and the greater awareness of and demand for health and wellness. One of the Target Companies, Novem Sciences Private Limited, has a 45% shareholding interest in Ardence Pharma Sdn Bhd, an associated company incorporated in Malaysia which is involved in the wholesale of pharmaceutical and medical goods.

Mr. Albert Ng is the founder of Novem and a registered pharmacist with over 20 years of relevant industry experience in the distribution, sales and marketing of healthcare products. Under his leadership, Novem has established itself as a reliable and trusted partner in Singapore’s healthcare community. As part of the Proposed Acquisition, Mr. Albert Ng will enter into an employment contract to be appointed as the Managing Director and Director of each of the Target Companies. In these roles, he will continue to oversee and manage the operations of the Target Group after the completion of the Proposed Acquisition.

Mr. Albert Ng (黄健平), Founder and Managing Director of Novem, remarked: “We look forward to being a part of Hyphens Pharma, the leading specialty pharmaceutical and consumer healthcare group in Singapore. Being part of the Group, Novem will be able to leverage on Hyphens’ strength in the private sector to accelerate our growth in Singapore and capitalise on new opportunities.”

Rationale for the Proposed Acquisition

The Proposed Acquisition is a strategic opportunity for Hyphens Pharma to acquire a portfolio of businesses with a good management team that is financially attractive from a revenue scale and earnings accretion perspective. It will enable the Company to gain access to new brand principals, products and customers that will enhance and enlarge the Group’s revenue and profits, and strengthen its presence in the Singapore market. With the Proposed Acquisition, the Group’s market leadership position in Singapore will be further entrenched and its ability to deliver a variety of high quality healthcare products and services to an enlarged customer base comprising both private and public sectors will be enhanced. In line with the Company’s growth strategy of investing in proprietary brands, the Proposed Acquisition will further strengthen its proprietary brands business segment with the addition of Novem’s proprietary brand of products.

Mr. Lim See Wah (林世华), Executive Chairman and CEO of Hyphens Pharma commented: “Besides being earnings accretive, the acquisition of Novem will help to cement our market leadership in Singapore and expand our product portfolio, while giving us access to new principals, market segments, and customers like the restructured hospitals. Our proprietary brands business segment will also get a boost with the addition of Novem’s proprietary products and we expect to accelerate our growth as we reap revenue synergies with them.”

1 The Target Companies comprise Novem Healthcare Pte Ltd, Novem Pharma Private Limited and Novem Sciences Private Limited.



All information in respect of the Vendors and the Target Companies is based solely on information and representations made and provided by the Vendors and the Target Companies to the Company. In respect of such information, the Company has not independently verified the accuracy and correctness of the same and the Company’s responsibility is limited to ensuring that such information has been accurately and correctly extracted and reproduced in this media release in its proper form and context.

Note: This media release is to be read in conjunction with the SGXNet announcement released on the same date. 


About Hyphens Pharma International Limited                              

Hyphens Pharma International Limited and its subsidiaries (the “Group“) is Singapore’s leading specialty pharmaceutical and consumer healthcare group, leveraging on its diverse footprint in ASEAN countries. The Group has a direct presence in Singapore, Vietnam, Malaysia, Indonesia and the Philippines, and is supplemented by a marketing and distribution network covering 10 other markets – Bangladesh, Brunei, Cambodia, China, Hong Kong S.A.R., Macau S.A.R., Myanmar, Oman, South Korea and Sri Lanka.

Singapore is the Group’s regional headquarters, where its strategic planning, finance, regulatory affairs, research and development, legal, business development and logistics operations are based. The Group’s core business comprises the following segments: Specialty Pharma Principals, Proprietary Brands, and Medical Hypermart & Digital. Besides marketing and selling a range of specialty pharmaceutical products in selected ASEAN countries through exclusive distributorship or licensing and supply agreements with brand principals mainly from Europe and the United States, the Group also develops, markets and sells its own proprietary range of dermatological products and health supplement products. In addition, the Group operates a medical hypermart for healthcare professionals, healthcare institutions and retail pharmacies, to supply pharmaceutical products and medical supplies.

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Issued on behalf of Hyphens Pharma International Limited

For enquiries, please contact:
Ms Foo En Yun, Tel: (65) 6704 9284, Mob: (65) 8180 3641, Email: [email protected]
Mr Gerald Woon, Tel: (65) 6704 9268, Mob: (65) 9694 8364, Email: [email protected]

This media release has been reviewed by the Company’s sponsor, SAC Capital Private Limited (the “Sponsor”). It has not been examined or approved by the Singapore Exchange Securities Trading Limited (the “SGX-ST”) and the SGX-ST assumes no responsibility for the contents of this media release, including the correctness of any of the statements or opinions made or reports contained in this media release.

The contact person for the Sponsor is Ms Lee Khai Yinn (Tel: (65) 6232 3210) at 1 Robinson Road, #21-00 AIA Tower, Singapore 048542.