Source: Economic Daily News (Taiwan)

Heron Neutron Medical Announces NT$1.38 Billion Investment to Acquire Controlling Stake in Singapore's SAM Holdings, Expanding into Southeast Asia

Heron Neutron Medical Corp. (TWSE: 7799) announced that its Board of Directors approved a major strategic investment on November 10. Through its subsidiary, Heron Neutron Medical Singapore Pte. Ltd., the company plans to subscribe for approximately 1.73 billion newly issued ordinary shares of Singapore-listed Singapore Institute of Advanced Medicine Holdings Ltd. (SAM Holdings) at SGD 0.031 per share. 

The total investment amounts to approximately SGD 53.63 million (NT$1.38 billion). Upon completion of the transaction, Heron is expected to hold approximately 50.09% of SAM Holdings and obtain a controlling interest, supporting its plans to develop an advanced dual-particle cancer treatment platform in Southeast Asia and expand its global precision medicine presence. 

Heron stated that the investment aims to integrate advanced medical technologies and resources across diagnostic radiology, nuclear medicine, targeted radionuclide therapy, particle therapy, and its core Boron Neutron Capture Therapy (BNCT) technology. 

By connecting clinical expertise and healthcare resources, the company intends to develop an integrated precision medicine service model spanning diagnosis and treatment. This initiative is expected to strengthen regional healthcare capabilities and support a broader range of personalized, patient-centered cancer care services. 

The investment will also provide an important platform for Heron's international healthcare business expansion, supporting operational diversification, competitiveness, and long-term growth. 

Heron is a Taiwan-based developer and supplier of accelerator-based Boron Neutron Capture Therapy (AB-BNCT) systems, with a longstanding focus on advanced cancer treatment technologies and medical equipment development. The proposed investment in SAM Holdings represents a significant step in the company's overseas market expansion strategy. 

SAM Holdings is a Singapore-listed healthcare company focused on introducing advanced medical technologies and integrating clinical expertise with innovative research resources. 

Its business activities span precision cancer diagnostics, theragnostics, health screening, aesthetic medicine, proton therapy, photon radiotherapy, and comprehensive oncology services. The company also operates an advanced proton therapy center in Southeast Asia. 

Through the strategic investment, Heron and SAM Holdings plan to combine Heron's BNCT technology and industry resources with SAM Holdings' existing proton and photon radiotherapy capabilities, cancer diagnostics, and oncology services to establish an integrated platform offering multiple advanced cancer treatment modalities. 

As oncology continues to evolve toward precision medicine, theragnostics—integrating diagnostic imaging and targeted treatment—has become an increasingly important area of cancer care. 

The two companies intend to strengthen interdisciplinary collaboration in medical imaging and nuclear medicine, with the aim of improving diagnostic precision, supporting treatment response assessment, and advancing personalized targeted therapies. 

Their collaboration is also expected to facilitate the clinical application of radiopharmaceuticals and advanced molecular imaging technologies while creating opportunities for the development of diagnostic and nuclear medicine-related revenue streams. 

Building on SAM Holdings' existing healthcare infrastructure, both companies plan to explore the complementary capabilities of proton therapy and BNCT in developing an advanced dual-particle treatment center. 

By integrating photon radiotherapy, proton therapy, BNCT, and other emerging cancer treatment technologies, the proposed platform aims to offer a more comprehensive range of oncology diagnostic and treatment services. 

The initiative is also intended to support international collaboration among oncologists, radiation medicine specialists, nuclear medicine researchers, and clinical trial partners, facilitating medical research and the clinical development of emerging therapies. 

Heron emphasized that Singapore's established healthcare infrastructure and international connectivity make it an important gateway to Southeast Asian and global healthcare markets. 

Following the anticipated acquisition of a controlling interest in SAM Holdings, Heron plans to leverage the company's existing healthcare operations and regional market experience to expand its international business activities. 

Looking ahead, Heron and SAM Holdings intend to deepen their collaboration across BNCT, proton therapy, photon radiotherapy, targeted radionuclide therapy, precision cancer diagnostics, and nuclear medicine theragnostics. 

With Singapore as a regional base, the companies aim to expand their presence across Southeast Asia, explore international patient services and cross-border medical collaborations, and pursue opportunities in the development of next-generation cancer treatment technologies. 

These initiatives are expected to support the group's long-term operational growth and international competitiveness.