PETALING JAYA: Affin Hwang Asset Management Bhd’s private equity arm Bintang Capital Partners Bhd and OSK Ventures International Bhd (OSKVI) have completed a significant minority investment into My Care Concierge Sdn Bhd (Care Concierge) to support the continued growth of the company.
The investment was led by Bintang, via its maiden fund, BCP Asia Fund I, which is one of the mandated fund managers under Dana Penjana Nasional, an investment fund established by the Malaysian government to drive the country’s post-pandemic economic recovery and support the local private capital industry.
Care Concierge is a provider of elderly care solutions. The company provides professional caregiver support, allowing the elderly the option of having care provided to them in the comfort of their own homes, or at its premium assisted living facilities in six locations across the Klang Valley and Penang.
Care Concierge is able to mobilise more than 2,000 nurses, therapists and caregivers on its platform to provide specialised care such as post-hospitalisation recovery, dementia care, stroke care, cancer care and palliative care.
The company leverages the use of digital technology via its proprietary mobile application which allows it to provide important information such as blood pressure, heart rate, diet, daily activities and medication of patients.
Co-founded by CEO Martin Yap and chief technology officer Justin Yap in 2017, Care Concierge was borne out of a vision to create an ecosystem for the elderly care industry within the Asian context comprising of on-demand home care support, assisted living centres and elderly day-care centres.
This partnership will enable Care Concierge to continue growing its base of caregivers, expand its network of care centres and further improve and integrate technology to enhance its caregiving services for the wellbeing of the elderlies.
“Bintang was attracted to the opportunity to partner with Care Concierge because of their focus on delivering social impact and financial returns in a balanced way. For Bintang, we hope to be good stewards of the business by helping Martin and Justin to not only drive value creation from a commercial standpoint, but also by helping them increase the social impact of the business at the same time,” said Bintang founder Johan Rozali Wathooth in a statement today.