Foundation Healthcare Holdings Pte, backed by SeaTown Holdings, plans to file its IPO prospectus in Singapore within days, sources say. The company targets a third‑quarter listing and aims to raise up to S$500 million, roughly US$390 million. If successful, valuation could exceed US$1 billion, positioning it among the larger tech‑health ventures in the region for investors eyeing growth in healthcare tech in Southeast Asia.

SeaTown’s backing signals confidence in a market that recently saw several mid‑stage biotech firms go public. The planned raise aligns with Singapore’s push to attract high‑growth companies, offering a favorable tax regime and robust regulatory framework. Investors will monitor whether Foundation can match the valuation expectations set by comparable firms that closed above US$800 million in 2025 in the last quarter.

The IPO will test Singapore’s ability to compete with Hong Kong and Tokyo for healthcare listings. A successful debut could attract capital for the sector and signal that local firms can scale to $1 billion valuations. Market watchers expect the prospectus to detail revenue projections, risk factors, and the use of proceeds, which will shape investor appetite in the coming weeks.