Basel Medical Group Plans $1 Billion Bitcoin Acquisition

Basel Medical Group Ltd has initiated exclusive negotiations to acquire US$1 billion worth of Bitcoin. This strategic move aims to bolster the company's balance sheet and diversify its treasury reserves. The announcement, made on May 16, signifies a notable shift for the Singapore-based healthcare company, which is seeking to integrate digital asset investment with its aggressive growth plans in Asia’s medical services sector.

The company is in advanced discussions with a consortium of institutional investors and high-net-worth individuals to finalize the acquisition through a share-swap deal. If completed, this transaction would rank among the largest crypto acquisitions by a publicly listed healthcare firm in the Asia-Pacific region.

According to BMGL CEO Dr. Darren Chhoa, the transaction is anticipated to enhance the company’s financial flexibility. This will enable rapid deployment of capital for mergers, acquisitions, and infrastructure investments across emerging markets in Asia. “This US$1 billion financial transformation will give us unprecedented capacity to execute our Asia growth strategy while maintaining conservative financial management,” Chhoa stated.

The capital infusion is expected to position BMGL as one of the best-capitalized healthcare providers in the region. It will also create a diversified asset base designed to withstand economic volatility. Earlier this week, Heritage Distilling finalized a policy to accept and hold Bitcoin (BTC) and Dogecoin as part of its treasury strategy. Similarly, the company aims to begin accepting cryptocurrencies as payment and treating them as long-term assets to diversify sales and reach a broader customer base.