Singapore's healthcare industry is a lucrative one according to the Lippo Group and therefore the Indonesian conglomerate is eager to enter this market. Over the past couple of years the Lippo Group has been expanding its healthcare business in - and outside - Indonesia under its Siloam brand. In Yangon (Myanmar) there are now two Siloam hospitals, while a third one is being developed and should be ready by April 2017. Over the next years, Lippo wants to have a total of 12 Siloam hospitals in Myanmar, while it is also studying the possibility to open hospitals in Cambodia, Vietnam and Laos. Within this regional expansion drift, the acquisition of Singapore's HMC is regarded a key strategic step.

Lippo-linked unit Gentle Care already bought 90 million shares of HMC for a price of Sin$ 0.042 a piece, 4 million shares for a price of Sin$ 0.041 and 8 million for a price of Sin$ 0.040 a piece. Besides the purchase of shares Gentle Care will also buy Sin$ 10 million worth of HMC's convertible notes as well as Sin$ 60 million worth of non-convertible notes. However, these non-convertible notes will be changed into convertible ones after several requirements have been fulfilled.

In Indonesia, hospital operator Siloam International Hospitals, subsidiary of Lippo Karawaci, recently announced that it acquired two hospitals (in Bekasi and Mataram) in line with the company's business strategy to expand its hotels into all big and medium-sized cities of Indonesia.