Singapore Medical Group Limited (the company together with its subsidiaries, the group) announced that the company has on 7 October 2015 entered into a non-binding memorandum of understanding (MOU) with Cardioscan Pty Ltd. (Cardioscan) in relation to a proposed joint venture (the Joint Venture). Cardioscan recently launched services in Hong Kong. Pursuant to the MOU, the company and Cardioscan have agreed to explore the formation of a joint venture entity (the Joint Venture Entity) in Singapore which will engage in the provision of cardiac monitoring and reporting services in Singapore, Malaysia and Indonesia.