Singapore healthcare firm Basel Medical Group Ltd said it has entered into exclusive negotiations to buy $1 billion of Bitcoin (BTC)

It’s a strategic step to build its Bitcoin treasury and drive growth in Asia’s booming healthcare sector.

output: Health firm Basel Medical Group Ltd (BMGL) is planning to buy $1 billion of Bitcoin (BTC) as part of a broader financing strategy to fuel growth in Asia’s booming healthcare sector.

The Singapore-based firm said it has entered into exclusive negotiations for this deal, which would be completed through an innovative share-swap arrangement with a group of institutional investors and wealthy individuals from the crypto world.

This move follows rumors earlier in August about a $1.5 billion crypto purchase by an unnamed Asia-based healthcare firm.

If finalized, one of the largest Bitcoin acquisitions by a healthcare company in the Asia-Pacific region would be completed in the present quarter, subject to customary closing conditions and regulatory clearances.

The purchase is part of a wider strategy to quickly deploy capital into high-growth markets and opportunities.

“We are excited to announce this agreement, which will provide Basel Medical Group with the capital and flexibility we need to rapidly expand our operations and pursue new opportunities in response to the evolving healthcare landscape in Asia,” said CEO Dr. Darren Chhoa.

“This partnership will allow us to keep our medical business strong and well-managed, while also diversifying our investment portfolio with a meaningful holding of Bitcoin.”

The firm is known for its orthopedic, trauma, sports medicine, and neurosurgical services, operating in Singapore for over 20 years. It has close links with major industries including construction, marine, and oil & gas.

Now, the firm is planning to expand further in Southeast Asia, where rising income levels, aging populations, and increased healthcare demand are driving private sector growth.

Its move to purchase Bitcoin and expand its footprint in Southeast Asia comes amid a broader trend of conventional businesses venturing into crypto assets as part of their broader fiscal strategy to enhance robustness and growth potential.