mHealth Israel_Singapore Healthcare Landscape_Dr. Zubin Daruwalla

The Singapore Healthcare
Landscape & Advice To
HealthTech Players On
Navigating It
www.pwc.com/sg
mHealth Israel
30 April 2020
Dr. Zubin J Daruwalla, MBBCh (Hons), BAO, MRCSI, MCh (Orth), MMed (Orth)
Health Industries Leader, PwC Singapore & PwC South East Asia Consulting

PwC
April 2020Strictly private and confidential
The Singapore Healthcare Landscape

PwC
INCREASED WORKFORCE
WAR ON DIABETES
MENTAL HEALTH
IMPROVED FINANCING
AGEING SUPPORT
INTEGRATED HEALTH
2020 masterplan
“Improve accessibility, quality and
affordability”
NHGAHS
SingHealth
EHA
NUHS
JurongHealth
~Y2018
6 clusters to 3
SINGAPORE HEALTHCARE KEY INITIATIVES
Source: MOH website
The Singapore Healthcare Landscape & Advice To HealthTech Players On Navigating It

PwC
The Singapore Healthcare System
4
April 2020
I. Accessibility and Equity II. Effectiveness III. Financing
▪ Who is covered?:
– Universal health coverage
covers all
– Private insurance focuses on
catastrophic medical insurance
▪ What is covered?:
Medical expenses, surgical costs,
critical illness treatments,
disability and long-term care are
covered by multiple layers of
protection – four publicly-funded
healthcare insurance schemes,
complemented by private health
insurance
▪ How is the delivery system organized?:
The public sector dominates acute care
sector; Private sector providers focus on
primary care
▪ What is being done to ensured quality
and efficiency of care?: Strong
government supervision and
established national provider network
▪ How are costs controlled?:
– Healthcare spend only <4% of GDP
– Public insurance fund administered
by Central Provident Fund (CPF)
board; jointly run by three major
private insurers
– Transparency - All the hospital
transactions are open to public
▪ How is the health system
financed?:
– Public insurance: by Central
Provident Fund members’
monthly contribution (7%-
9% of monthly salary, up to
€34K per year)
– Private insurance: accounts
for ~8% of total health
expenditure; CPF members
can use the account savings
to buy private insurance
– OOP: accounts for ~54%
total health expenditure
Health Outcomes
▪ Health Expenditure
– as ~5% of GDP
– €2,342 per capita
▪ 83 years life expectancy
▪ 1.7‰ infant mortality rate
Source: BMI, WHO, Healthcare System in Singapore report; Ministry of Health of Singapore, PwC analysis
The Singapore Healthcare Landscape & Advice To HealthTech Players On Navigating It

PwC
Key Statistics
5
7th highest GDP Per
Capita (PPP) in the
world
€55,675
EU’s largest trading
partner in ASEAN
€48.7 billion
Average annual
disposable income
per capita
€22,617 EU is the largest source
of Foreign Direct
Investment (FDI)
€102.9 billion
5.54 million population
By age groups:
▪ 19 and below: 21.3%
▪ 20 to 34: 21.0%
▪ 35 to 49: 23.3%
▪ 50 to 64: 22.0%
▪ 65 and above: 12.4%
716 km2
Source: SingStat (http://www.singstat.gov.sg/publications/publications-and-papers/population-and-population-structure/population-trends), EuroMonitor, PwC Analysis
April 2020The Singapore Healthcare Landscape & Advice To HealthTech Players On Navigating It

PwC
Key Statistics
6
Healthcare Expenditure
• By 2020, expenses expected to
increase to €22.4 bn due to
progressively ageing population
Household Income
• Average monthly resident
household income has
increased from €3,844 in 2005
to €6,732 in 2015
5.54mil population
• 11.2% of SG population
was over 60 years of age in
2014; expected to increase
to 15% in 2020
$11
$12
$14
$15 $15 $16
$18
$20
$22
$25
4.1 4.2
4.6
5.2
5.5
6.0 6.0
6.3
6.5
6.7
0.0
1.0
2.0
3.0
4.0
5.0
6.0
7.0
$0
$5
$10
$15
$20
$25
$30
$35
2011 2012 2013 2014 2015 2016f 2017f 2018f 2019f 2020f
%US$ bn
Total Healthcare Expenditure (US$ bn)
Healthcare Expenditure as a % of GDP
Source: Ministry of Health (MOH), WHO, PwC Analysis

PwC
Key Statistics
7
Over €2.6 bn
allocated to developing health
and biomedical sciences
sector for the next 5 years
Singapore is R&D hub of
over 30
global MedTech players
1 in 2
Singaporeans are at risk of
chronic diseases
Total Healthcare Expenditure
€13.4 bn
5.5% of GDP
*Expected to increase at CAGR of
9.9% from 2015-2020
Life Expectancy
83 Years
Source: SingStat, MoH, Singapore Cancer Registry, The Straits Times (http://www.straitstimes.com/singapore/health/singapore-has-2nd-highest-proportion-of-diabetics)
10.5% of
Singaporeans have been
diagnosed with diabetes
2nd highest
proportion of diabetics
among developed
nations
Incidence of cancer
has risen by 17%
from 2010 to 2015

PwC
HealthTech and MedTech
8
Hospitals
Diagnostic
s
Nursing
Homes &
Hospices
Insurers
(Payors)
MedTech
Health
Tech
Government
& Public
Bodies
Pharma
Note: This is a non-exhaustive list for illustrative purposes only.
Source: BMI, PwC Analysis

PwC
Stakeholders: Government Agencies
9
Ministry of Health (MOH)
Through MOH, the government manages the public healthcare system to ensure that good and
affordable basic medical services are available to all Singaporeans. This is done through providing
subsidised medical services while promoting individual responsibility for the costs of healthcare
services. Safety nets are provided to ensure that no Singaporean is denied access to healthcare.
MOH Holdings (MOHH)
MOHH is the holding company of Singapore’s public healthcare clusters, and shares the MOH’s
vision to champion a healthy nation, its role is to enhance public healthcare sector performance by
driving synergies and economies of scale, and optimising performance through sector-level
initiatives and addressing system-level gaps. From 1 November 2016, the Information Systems
Division of MOH Holdings has merged with the Integrated Health Information Systems to form a
single organisation.
Integrated Health Information Systems (IHiS)
IHiS is Singapore’s healthcare IT leader that digitises, connects, and analyses Singapore's health
ecosystem. It aims to improve the Singapore population's health and health administration by
integrating intelligent, highly resilient, and cost effective technologies with process and people.
IHiS seeks to transform healthcare through smart technology, and has garnered more than 80
awards for its innovations. It supports more than 40,000 healthcare users in Singapore's health
ecosystem through the application of clinical informatics, computer science, data science,
mechatronics, standards-based IT, and machine learning etc.
Source: Ministry of Health Singapore (https://www.moh.gov.sg/),, MOH Holdings (www.mohh.com.sg/), Integrated Health Information Systems (https://www.ihis.com.sg/)

PwC
Stakeholders: Government Agencies
10
Government Technology Agency of Singapore (GovTech)
GovTech is the implementing agency of Singapore’s push towards Smart Nation and Digital
Government with the aim to provide a better quality of life in Singapore for everyone and is
focused on building capability centres in (1) Application Development, (2) Cybersecurity, (3) Data
Science, (4) Government ICT Infrastructure, (5) Geospatial Technology, and (6) Sensors & IOT.
GovTech offers the HealthHub app as a digital service to citizens, allowing them to access their
medical records and check their lab test results on a smartphone as Singapore has one of the
highest smartphone adoption rates in Singapore. Singapore’s Smart Nation push includes the use
of robotics to assist the elderly, and tele-health efforts such as remote consultations between the
doctor and patient. In addition, Singapore’s National Steps Challenge utilizes wearable fitness
trackers to encourage people to lead more active lifestyles.
Health Sciences Authority (HSA)
The Health Sciences Authority (HSA) was formed on 1 April 2001 as a statutory board of the
Singapore Ministry of Health with the integration of five specialised agencies. It aims to be the
leading innovative authority protecting and advancing national health and safety through the
regulation of health products.
National Medical Research Council (NMRC)
The NMRC was established in 1994, overseeing the development and advancement of medical
research in Singapore. It provides research funds to healthcare institutions, awards competitive
research funds for individual projects, and is responsible for the development of clinician-
scientists through awards and fellowships.
Source: GovTech (www.tech.gov.sg/) , Health Sciences Authority (www.hsa.gov.sg/), National Medical Research Council (www.nmrc.gov.sg/)

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Stakeholders: Industry Associations
11
APACMed
Headquartered in Singapore, APACMed is the first and only association to represent the
MedTech industry in Asia Pacific. It works proactively with government bodies to shape
policies, push for innovation, and promote regulatory harmonisation.
Galen Growth Asia
Galen Growth Asia exists to catalyse the convergence of healthcare and technology to enable
Asia’s HealthTech ecosystem. It wants to develop a sustainable and vibrant HealthTech scene
across Asia – fostered through collaboration between corporations, investors, new ventures,
hospitals, governments and other stakeholders.
Association of Medical Device Industry (AMDI)
AMDI is an organisation dedicated to supporting development of the local MedTech sector. It
works with relevant agencies like A*STAR and SPRING to match emerging technologies from
research institutes with local SMEs.
Source: APACMed (http://www.apacmed.org/), Galen Growth Asia (https://www.galengrowth.asia/), Association of Medical Device Industry (http://amdi.org.sg/)

PwC
Stakeholders: Corporates
12
GE Healthcare
GE Healthcare seeks to develop transformational medical technologies to advance patient care. Its
portfolio in Singapore is focused mainly on diagnostic imaging equipment and healthcare information
systems. It has a strong presence in Singapore’s public hospitals and national specialty centres. GE
Healthcare has several key projects in Singapore, including a partnership with Singtel to provide an
integrated clinic EMR solution under the National Educational Health Record (NEHR) programme
where patients’ medical records are centralised.
Siemens Healthineers
Siemens Healthineers has a wide range of product groups including Healthcare IT and Infrastructure,
Therapy Systems, Laboratory Diagnostics, Medical Imaging, and Medical Accessories, OEM and
Electronics across various clinical specialties and diseases such as Cardiology, Neurology, Oncology,
Surgery, Women’s Health, Allergy, Diabetes, and Autoimmune Disorders.
Philips Healthcare
Philips’ APAC Center in Singapore houses its APAC headquarters and innovation activities. It houses a
tele-healthcare centre that enables hospitals to remotely monitor and treat patients at home. In 2014,
Philips partnered with the Eastern Health Alliance and Changi General Hospital to pilot Singapore’s
first tele-health programme for heart failure patients in Singapore. Philips is also working with EDBI to
jointly invest in select, high-potential digital health companies, particularly in the area of Population
Health Management. Philips will provide mentorship, tools, and access to its global network of
business partners, customers, and channels to awarded companies.
Source: GE Healthcare (http://www3.gehealthcare.com.sg/en-gb/about_us/about_us_-_Singapore), Siemens Healthineers (https://www.healthcare.siemens.com.sg/), Philips
Healthcare (http://www.philips.com.sg/healthcare)

PwC
Stakeholders: Corporates
13
Medtronic
Medtronic is a global healthcare solutions company committed to improving the lives of people.
Its product solutions span the Cardiac and Vascular Group, Restorative Therapies Group, and
Diabetics Group. Medtronic opened its international and regional headquarters in Singapore in
October 2009.
Becton, Dickinson and Company
BD has its Greater Asia regional headquarters in Singapore, where it engages in a full suite of
capabilities including needs identification, product and process development, manufacturing,
and distribution. BD’s manufacturing capabilities in Singapore extend from needles and
syringes to blood collection devices for diagnosis and treatment monitoring, and diabetes care
products.
Johnson & Johnson
Johnson & Johnson’s products focus on enabling better outcomes in bariatric, thoracic,
colorectal and general surgeries. It has situated its Asia Pacific headquarters and regional
distribution centre in Singapore.
Source: Medtronic (www.medtronic.com/), Becton, Dickinson and Company (www.bd.com/sg/), Johnson & Johnson (https://www.jnj.com/healthcare-products/medical-devices)

PwC
HMT Industry Development Overview
14
Identified as one of the four strategic
technology domains
Aims for €3.2bn in manufacturing
output (1% of GDP)
€2.6bn of Singapore budget
allocated for the sector over
the next 5 years
Priority review scheme
Good Distribution Practice for Medical Devices (GDPMS)
Source: Singapore Government, The Straits Times
Dedicated infrastructure
Technology and public-private
partnerships
Accelerators

PwC
HMT Industry Development
15
• Research, Innovation and Enterprise 2020 Plan (RIE2020 Plan)
The RIE2020 Plan has identified Medical Technology as a strategic
domains and allocated the health and biomedical sciences sector a
budget of €2.5 bn of the total €12.2 bn over the next five years.
• Key growth areas in Medical Technology
Singapore’s Committee on the Future Economy (CFE) has identified the
following four areas for growth under healthcare:
❑ Scalable technology and automation
❑ Wearables
❑ Predictive analytics
❑ Solutions in disease prevention
• Health IT Master Plan (HITMAP)
Unveiled at the National Health IT Summit 2017, the HITMAP enables the MOH’s shifts
of moving beyond quality to value, hospital to community, and healthcare to health
through 7 key transformation programmes: population profiling, population enablement,
prevention and continuity of care, provider care and operations excellence, healthcare
financial excellence, policy and public health workbench, and IT foundation and
resiliency.

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16
• Sector Specific Accelerator
A total of $70 million has been committed under the Sector Specific Accelerator (SSA)
Programme to encourage the formation and growth of start-ups in medical technology in
Singapore. These accelerators will identify and invest in high-potential medical technology
start-ups to bring their ideas to the market.
• Dedicated Infrastructure
Dedicated infrastructure such as the MedTech Hub, Biopolis, and Tuas
Biomedical Park provide a plug-and-play environment, supporting
Singapore’s biocluster endeavor led by EDB’s Biomedical Sciences Group,
EDB’s Bio*One Capital and A*STAR’s Biomedical Research Council.
• Private-Public Partnership
Companies can collaborate with scientists in Singapore’s public-sector
research institutes to develop new medical technology innovations and
applications. These institutes possess strong capabilities in various
technologies across multiple disciplines such as bio-imaging, cell biology,
materials engineering, microelectronics, and nanotechnology, which can
be translated into novel applications for life science instruments and
medical devices.

PwC
17
• Priority review scheme • Good Distribution Practice for Medical Devices (GDPMS)
The Government will help innovative medical devices gain
quicker access to the market by establishing a priority
review scheme for MedTech devices. Applications
submitted under this scheme will be prioritised, shortening
turn-around-times to register the device. The Government
will also launch a “pre-market consultation scheme” to
provide medical device developers with greater certainty.
The GDPMDS certification seeks to ensure that
companies dealing with medical devices have a quality
distribution system in place, wherein the quality of the
medical devices is maintained throughout the storage and
distribution process. The GDPMDS certification is
required in the application of an Importer's or
Wholesaler's License.
• Collaborative Opportunities by HSA

PwC
Regulations
18
Under the Health Products Act,
• Health Sciences Authority (HSA) is the agency that regulates the
import and use of medical devices in Singapore.
• All medical devices for sale in Singapore must be registered with HSA
unless they have been specifically exempted in the Health Products
(Medical Devices) Regulations.
• Importers and wholesalers of medical devices should obtain the Good
Distribution Practice for Medical Devices in Singapore (GDPMDS)
certification.
Application of Import of
Medical Devices to Singapore
For more information, please refer to:
http://www.hsa.gov.sg/content/hsa/en/Health_Products_Regulation/Medical_Devices/Overview/Guidances_for_Medical_Device_Registration.html

PwC
HMT Case Studies
19
The Straits Times
Private health sector urged
to digitise records
S’pore ‘on track to have
one of world’s most IT-
enabled healthcare
systems
Singapore unveils national
Health IT Master Plan
(HITMAP)
Minister for Health, Mr Gan Kim Yong,
announced seven key transformation
programmes under MOH’s strategic HITMAP at
the 9th National Health IT Summit 2017. New
projects such as the admissions prevention
predictive model for the Ministry’s Hospital to
Home Programme, Health Marketplace, and Vital
Signs Monitoring were also unveiled…
Read more here:
http://www.opengovasia.com/articles/7650-singapore-
unveils-national-health-it-master-plan-hitmap
The private health sector is again being urged
to speed up digitising patients' health records
to complete implementation of the National
Electronic Health Records (NEHR) database.
The database, launched in 2011, allows
healthcare professionals to quickly and easily
access patients' medical history, from drug
allergies to pre-existing conditions, and the
patients’ outstanding medical appointments…
Read more here:
http://www.straitstimes.com/singapore/health/private
-health-sector-urged-to-digitise-records
By 2021, when the Health IT Masterplan is
completed, patients, doctors and healthcare
providers will all be hooked up in a vast
electronic database. Conditions of patients
with complex chronic ailments can be easily
monitored in their homes and, if intervention is
needed, this can be quickly provided so the
patient does not end up in hospital…
Read more here:
http://www.straitstimes.com/singapore/health/spore-
on-track-to-have-one-of-worlds-most-it-enabled-
healthcare-systems
The Straits Times OpenGov

PwC
HMT Case Studies
20
TODAY, Singapore
From wearable sensors to
robots, home care to get
tech boost
Singapore hospital using
robots to help stressed-
out pharmacists dispense
medication From merely playing a “supportive role” in the
past, such as in patient administration,
diagnosis and treatment, the use of IT in the
healthcare landscape has the potential to be
ramped up with new innovations ranging from
telemedicine to big data, wearable sensors to
personalised medicine, and from robots to 3D
printing…
Read more here:
http://m.todayonline.com/singapore/healthcare-
sector-ride-digital-revolution-intelligently-gan-kim-
yong
A hospital in Singapore is now using robotics
to bring down pharmacy waiting times while
easing loads on pharmacists by automating
80% of medication dispensing…
Read more here:
http://www.ibtimes.co.uk/videos/singapore-hospital-
using-robots-help-stressed-out-pharmacists-
dispense-medication-25412
International Business Times

PwC
HMT Case Studies
21
Singaporean startup gets
funding to help medtech
meet international
standards
Healthcare sector to
procure S$300m of ICT
projects in FY2017
Singapore’s Stendard, an online service
helping medical device manufacturers fulfill
international standardization regulations, has
just announced an undisclosed sum of pre-
seed funding…
Read more here:
https://www.techinasia.com/stendard-preseed-round
The Singapore healthcare sector plans to
procure an estimated S$300 million in ICT
(infocomm technology) projects in fiscal 2017,
independent of the government's intention to
call S$2.4 billion in ICT tenders during the
2017 fiscal year…
Read more here:
http://www.businesstimes.com.sg/technology/healthc
are-sector-to-procure-s300m-of-ict-projects-in-
fy2017
The Business Times Tech in Asia

PwC
HMTs Entering the Singapore Market – Summary
22
Leverage
pro-business
environment
01
Establish
network
connections
03
Comply with
medical
regulations
02
Submit a
bid for
tender
04
EDB-MOH
Health and
Wellness
Programme
Office
(HWPO)
Focus on
B2B marketing
to find local SG
partners
Singapore
Medical
Device
Register
Most
transparent
country in
the world,
ensuring fair
bidding
process

PwC
However…
23

PwC
A substantial amount of money is invested in HealthTech, but the
total amount and ROI are unknown
24
Selected headlines from articles and funding
grants provided to HealthTech startups locally

PwC
Both local and in-bound HealthTech startups often lack clarity and
knowledge to set-up and commercialise successfully in Singapore,
the region and internationally
25
Challenges faced by local and in-bound HealthTech startups leading to overall low
success rates from conceptualisation to (successful and sustainable) commercialisation
Non-Exhaustive
Inadequate Understanding of
Needs & Motivation
Difficulty in Environment
Mapping
Lack of Business Strategy &
planning
Sub-Optimal Operational
Management
• Absent and/or untimely and/or
inappropriate clinician
involvement with resultant lack of
identifying actual problems
• Tech-driven vs Needs-driven
innovation
• Misalignment of clinical adoption
• Overestimated appetite for
change
• Difficulty navigating health
ecosystem
• Inadequate knowledge of
regulations
• Unstructured business partner
selection
• Mismanagement of
startup-investor dynamics
• Lack of structured go-to-market
strategy and accurate
assessment of market
• Unclear stakeholder map and
approach strategy
• Lack of B2B, B2C and B2B2C
tactics
• No neutral third party oversight
• Sub-optimal workflows
• Lack of corporate and financial
experience
• Unsatisfactory IP and data
maintenance
• Talent attrition and difficulty with
recruitment

PwC
One key reason for failure is that there are too many stakeholders
in the ecosystem and without guidance, startups find it difficult to
navigate them in a timely and efficient manner
26
Non-Exhaustive
Innovation Centres TTSH’s Centre for Healthcare Innovation (CHI), NUHS’ Centre for Innovation in Healthcare (CIH), CGH’s Centre for Innovation (CFI)
MOH Affiliates
Ministry of Health Transformation (MOHT), Regulatory Sandbox Group, Integrated Health Information Systems (IHiS), Health Promotion
Board (HPB), Ministry of Health Holdings (MOHH)
Health Clusters SingHealth (East), National University Health System (West), National Healthcare Group (Central)
Singapore Government
Bodies
Government Technology Agency (GovTech), Smart Nation and Digital Government Office (SNDGO), Agency for Integrated Care (AIC),
Agency for Care Effectiveness (ACE), Singapore Clinical Research Institute (SCRI), National Health Innovation Centre (NHIC), Intellectual
Property Office of Singapore (IPOS)
Public & Private
Incubators/Accelerators
A*STAR (including A*StartCentral, A*ccelerate), NUS Enterprise’s Lean LaunchPad, JFDI, Catalyst, NUS’ BIGHEART, NUS’ GRIP, SMART
Innovation Centre, SG Innovate, MTI Pro-Enterprise Panel, Singapore Biodesign
Academia and Research
SingHealth Duke-NUS Global Health Institute (SDGHI), Duke’s Centre of Regulatory Excellence (CoRE), NUS Saw Swee Hock School of
Public Health, NTU Institute for Health Technologies, NTU Centre for Primary Health Care Research and Innovation, NUS, Duke-NUS, NTU
LKC, Royal College of Surgeons in Ireland, Research For Impact
Regulators Health Sciences Authority (HSA)
Grants and Guidelines
Economic Development Board (EDB), EDBI, Enterprise Singapore (ESG, formerly IE and Spring), National Medical Research Council
(NMRC), Personal Data Protection Commission (PDPC), National Research Foundation (NRF), AI Singapore
Insurers Aetna, AIA, AXA, BUPA, Prudential, NTUC Income, Great Eastern
Industry Associations
Singapore Medical Council (SMC), Singapore Medical Association (SMA), Galen Growth Asia (GGA), Asia Pacific MedTech Association
(APACMed), Ageing Asia, Association of Pharmaceutical Medicine Singapore (APMS), Association of Medical Device Industry (AMDI)
Foreign International
Development Bodies
UK Department of International Trade (DIT), UK Foreign Commonwealth Office (FCO), EU Commission
Investors Angels, HNWIs, PEs, VCs
Note: PwC has existing relationships with the abovementioned entities

PwC
We understand that targeted support at each stage of growth is
necessary to guide startups from conceptualisation to (successful
and sustainable) commercialisation
28
Clinical
Advisory
Advisory
(Starting Up & Scaling Up)
Legal
Assurance
Tax
Mergers &
Acquisitions
Corporate
Finance
Conceptualisation Validation Operation Commercialisation
✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔
✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔ ✔
✔ ✔ ✔ ✔
✔ ✔ ✔ ✔ ✔
✔ ✔
✔
PwC Services
Fundraising Support
HealthTech startups looking to anchor
themselves in Singapore face a
myriad of challenges, from the lack of
a structured go-to-market strategy
and accurate assessment of market,
to facing difficulty navigating the
complex ecosystem and stakeholders
involved.
At each step of a startup’s journey,
we can provide targeted support with
the right expertise due to PwC’s
unique position as a comprehensive
professional services provider within
the startup space.

PwC
We are not another accelerator as we provide a unique,
differentiated and more comprehensive offering in comparison
29
Illustrative & Subjective
ExtentofGuidance,Mentorshipand
ServicesProvided
Equity Stake taken in StartupSignificant Low
Basic
Comprehensive
with Clinical
Insights
HealthTech Focus
1. Clinician
involvement
2. Global reach
3. Full suite of
professional
services

PwC
We have formed a core digital health faculty spanning the globe,
consisting of respected and world renowned future-thinking
clinician innovators and/or educators
30
Prof. Shafi Ahmed,
United Kingdom
Shafi is a multi award
winning surgeon, teacher,
futurist, innovator and
entrepreneur. He is a
laparoscopic colorectal
cancer surgeon at The
Royal London and St
Bartholomew’s Hospitals
as well as the medical
school Vice Dean and has
been awarded the accolade
of the most watched
surgeon and first to use
Snapchat Spectacles
during live surgery.
Dr. Rafael Grossman,
USA
Rafael is a healthcare
futurist and innovator,
and full-time general,
trauma, acute care,
advanced laparoscopic
and robotic surgeon. He
performed the first ever
documented surgery with
Google Glass. His focus is
in the convergence of
innovation-tech, futurism
and healthcare social
media to disrupt and
improve healthcare
delivery and education.
A/Prof. Joanne
Yoong, Singapore
Joanne is an experienced
health economist and
interdisciplinary
researcher with a
demonstrated history of
working in finance, health
and the think tank
industry with a PhD in
economics. She is a senior
health economist at the
University of Southern
California, Centre for
Economics and Social
Research and an adjunct
A/Prof at NUS.
Richard Royle,
Australia
Richard is a senior adviser
to PwC. He has over 30
years of senior executive
experience in the public,
for profit and not for
profit private hospital
sectors in Australia.
Richard implemented
Australia’s first digital
hospital and is the
immediate past President
of the Australian Private
Hospitals Association and
CEO of UnitingCare
Health for 10 years.
Prof. Calvin Coffey,
Ireland
Calvin is the Chair of
Surgery at the Graduate
Entry Medical School,
University of Limerick
and University Hospitals
Limerick. He is a general
and colorectal surgeon
with a special interest in
minimally invasive
surgery. His clinical focus
is in colorectal cancer,
inflammatory bowel
disease and pelvic floor
abnormalities.
Prof. Philip Wong,
Singapore
Philip has 27 years of
experience as physician
and researcher with 20
years clinical experience
in clinical interventional
cardiology. He is the
founder of WEB
Biotechnology Pte Ltd, a
digital health company
making complete P to P (
patient to physician)
solutions for cost-
effective monitoring and
healthcare delivery.
…and more than a dozen other external experts

PwC
We have also formed and are in the process of forming
partnerships with a number of local and international groups
spanning the globe, consisting of respected and world renowned
organisations to provide easier and quicker access to clinical trials
31

PwC
Our HealthTech success stories include INEX and Speedoc, where
we have worked closely with them on their path from start-up to
scale-up
32
Structuring
▪Advising and refining
strategy and business plan
▪Review of legal/tax
structure of the company.
▪Review of Speedoc’s and
INEX’s accounting, legal
and regulatory
requirements and its
implications.
Talent plan
▪Assisted Speedoc and
INEX in the development
and need for a structured
HR plan.
▪Vetted profile of candidates
for key positions.
Quality of Service
▪With our in-house
Specialist, Dr Zubin,
Venture Hub advised
Speedoc on how to improve
the quality standard of
services provided.
What’s next?
▪Speedoc is embarking on the
expansionary plan into
Malaysia and other ASEAN
countries. Venture Hub has
already provided connections
to senior levels at Ministry of
Health (Malaysia) and other
VCs in Malaysia.
▪Venture Hub provided the tax
efficient structuring model to
INEX for their expansion into
ASEAN.
▪Venture Hub will continue to
support in the scaling up of
Speedoc and INEX.
Growth and
Expansion
▪Evaluate viable market
opportunities together and
developed viable roadmap
for scaling.
▪Connected Speedoc to
Senior level stakeholders
i.e. Ministry of Health of
Singapore and other
regions.
▪Connected investors to
INEX which eventually led
to a successful merger with
Nova Satra Dx.
Capital Budgeting
and Funding
▪Introducing investors and
strategic partners.
▪Analyse the funding
requirements of Speedoc
and INEX and review
allocation of budget.
Spinoff from NUH (Prof. Mahesh Choolani)
& A*STAR (Dr. Sidney Yee)

PwC
“We always over-estimate the change that will occur in the next two years and
under-estimate the change that will occur in the next ten.”
- Bill Gates
We must reimagine healthcare

PwC 34
As technology gets more sophisticated, digital innovations and
care delivery could evolve from a HCP professional coming to the
patient to detection and treatment capabilities inside the body
2020 2025 2030
Improved Processing and
software engineering
Shrinking sensor sizes and
innovative manufacturing
Cloud and mobile
communication technologies
Artificial intelligence and
Nano-technology
2010
Convergence of
healthcare
technology
capabilities
Run by
brain-machine
interfaces and AI?
You go to healthcare Healthcare comes to
you
You carry healthcare Healthcare is inside you
Source: “The Singularity is Near” by Ray Kurzweil, PwC analysis
Wearables
Ingestible & implantable
sensors
Ambulance drones
“Trauma care in a rucksack”
Smart homes

PwC 35
Remember, we really are only
limited by our own imagination…

© 2020 PricewaterhouseCoopers. All rights reserved.
PwC refers to the Singaporean member firm, and may sometimes refer to the PwC network.
Each member firm is a separate legal entity. Please see www.pwc.com/structure for further details.
Liability limited by a scheme approved under Professional Standards Legislation
THANK YOU
For further information, please contact:
Dr. Zubin J Daruwalla
Health Industries Leader
PwC Singapore & PwC South East Asia Consulting
t: +65 9751 7023
e: zubin.j.daruwalla@pwc.com

mHealth Israel_Singapore Healthcare Landscape_Dr. Zubin Daruwalla

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