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November 17, 2017 By Kim Chin

Singapore Offers Significant Business Opportunity for N.C. Companies, Ambassador Says

Kim Chin, managing partner of McChin Healthcare Solutions, with H.E. Ashok Mirpuri, Singapore's Ambassador to the United States
Kim Chin, managing partner of McChin Healthcare Solutions, with H.E. Ashok Mirpuri, Singapore’s Ambassador to the United States

RESEARCH TRIANGLE REGION, N.C. – Singapore offers significant business opportunity for innovative N.C. companies, not only as a market in itself but as a key gateway to Asia-Pacific countries, Singapore’s ambassador to the United States H.E. Ashok Mirpuri told business, university and economic development leaders Thursday in Raleigh.

“We are the largest investor today in China and India and a significant investor in countries around the world,” Mirpuri said during a business roundtable co-hosted by the Research Triangle Regional Partnership with McChin Healthcare Solutions, a healthcare business consultancy.

“The companies that come to the U.S. are looking for innovation – they are looking for something special. I think that’s where North Carolina can offer possibilities for collaboration,” Mirpuri said.

Life sciences, health care, cleantech, data analytics and information technology are key areas of synergy and opportunity, but any company seeking to grow can benefit from doing business with Singapore, said Kim Chin, managing partner for McChin Healthcare Solutions.

“Our goal in hosting this event was to provide opportunities for companies, both in North Carolina and in Singapore, to develop viable and sustainable commercial relationships,” Chin said. “Part of the puzzle is for businesses here to understand what Singapore represents.”

Singapore is a small island nation off of southern Malaysia, only 276 square miles. But it is home to 5.5 million people and 5,000 multinational companies. It is a key gateway to more than 600 million people in Southeast Asia, as well as China and India. The World Bank ranks Singapore as the No. 1 place to do business in the world.

Technologically advanced, with broadband access for 99 percent of its population, Singapore is extremely business friendly and offers extensive support for companies, large and small, interested in entering Asian markets, Mirpuri said. Its container port, the busiest in the world, offers 200 shipping lines with links to 600 ports in 123 countries, and Singapore offers one of the most extensive networks of trade agreements in Asia.

The U.S.-Singapore Free Trade Agreement enacted in 2004 was the United States’ first with an Asia-Pacific country. Bilateral trade volumes have grown 53 percent, to $50 billion, since
enacted. The United States, Singapore and 10 other countries representing 40 percent of global GDP have negotiated a Trans-Pacific Partnership (TPP) agreement that, if ratified, could further expand market opportunities.

North Carolina companies exported $607 million in goods and services to Singapore in 2011. Duke University, N.C. State University and the University of North Carolina at Chapel Hill are actively involved in the country, operating a broad range of joint degree programs and research initiatives with universities there.

While companies from Singapore tend to flock to San Francisco and New York, that trend is shifting, opening opportunities for business opportunities for North Carolina, Mirpuri said.

N.C. companies would be well-served by pursuing those opportunities, said Matt Cox, a consultant leading Duke University’s telehealth program. He worked with Chin on a telemedicine partnership with a Singaporean company to help Singapore expand its access to U.S. radiologists.

“It’s a wonderful place to do business,” Cox said. “It’s very business friendly – the people, the environment, the culture. There is a lot of opportunity.”

Sean M. King, president of Align Global Consulting agreed. The company represents U.S. companies seeking to expand to global markets.

“Asia has obviously blossomed, but within Asia, Singapore is the crown jewel,” King said. “There is a tremendous infrastructure – it starts when you get off the airport at the finest airport in the world. From there you have a government that supports low tax policy, provides a fantastic workforce and a fantastic talent pool, and the resources they offer are tremendous. We’re very bullish on Singapore.”

About McChin Healthcare Solutions
McChin Healthcare Solutions specializes in global healthcare business for clinical service providers, medical device manufacturers and pharmaceutical companies. Founder and managing partner Kim Chin is a corporate advisor to healthcare companies and government institutions and a business catalyst for publicly listed companies, government and statutory boards, private equity and venture capital firms, and private sector enterprises across the global healthcare spectrum.

About the Research Triangle Regional Partnership
The Research Triangle Regional Partnership (RTRP) leads economic development for the Research Triangle Region of North Carolina. RTRP works to generate competitive advantage and economic growth for member counties and investors. For more information, visit www.researchtriangle.org or follow @TriangleRegion.

Filed Under: McChin Healthcare Solutions Tagged With: ASEAN, Asia, Asia Pacific, chapel hill, durham, economic development, economic partnerships, global healthcare, H.E. Ashok Mirpuri, international business, Kim Chin, McChin Healthcare Solutions, multinational, north carolina, raleigh, research triangle park, Singapore, TPP

November 16, 2015 By Kim Chin

Client Feature: Behavioral Health

Objective:  Develop and support commercial activities for digital health solution rollout into global markets.

Client:  Behavioral Health

The company’s app-based product utilizes science, technology and Big Data to create B2B and B2C applications in diabetes behavior management and change programs.  The company’s innovations respond to growing acknowledgement by healthcare experts of the clinical relationship between behavioral health and chronic diseases like Type 2 Diabetes.

McChin Healthcare Solutions is the lead consultant to develop opportunities in commercial markets, forge strategic partnerships with managed care, healthcare providers and payers, and enrich value with affinity innovators in digital therapeutics.

Filed Under: Clients Tagged With: big data, chronic disease, data consulting, data science, diabetes, diabetes apps, digital diabetes behavior change, digital therapeutics, obesity, population health, type 2 diabetes.

July 30, 2015 By Kim Chin

Client Feature: Telemedicine Provider

Objective: Provide client with the identification and procurement of global healthcare business partnerships

Client: Telemedicine Provider

Provider is a leading outsourced radiology physician services and telemedicine company with U.S. board-certified and eligible physicians, the majority of whom are subspecialty trained. The company interprets  millions of patient studies annually—and processes over a billion images on the world’s biggest and most advanced teleradiology PACS— for its large network of client hospital, health system and radiology group facilities. The company is part of a national medical group that comprises leading providers of neonatal, anesthesia, maternal-fetal and pediatric medical and surgical subspecialty services.

McChin Healthcare Solutions is the principal consultant to identify, develop, secure and manage U.S. government and international contracts in the Asia Pacific, Latin America Caribbean, and the Gulf Cooperation Council countries.

Filed Under: Clients Tagged With: Clients, diagnostic imaging, global healthcare, McChin Healthcare Solutions, outsourced radiology, physician services, radiology, telehealth, telemedicine, teleradiology

July 29, 2015 By Kim Chin

Client Feature: Biotechnology Business Delegation

Objective: Build direct-to-sponsor engagements and develop CRO strategic relationships

Client: Biotechnology Business Delegation

American FlagSingapore is home to Asia Pacific’s thriving international biomedical services cluster with 8 of the top 10 global pharma and biotech establishing research, manufacturing and distribution operations in the city state.  International Enterprise (IE) Singapore, a statutory board under the Ministry of Trade and Industry, is the government agency that spearheads the country’s external economy.  IE assembled a delegation comprising leading companies – Acumen Research Laboratories, ClinActis, Maccine, Gleneagles CRC, PWG Genetics, Curiox BioSystems and GK Pharma – to meet prospective strategic partners in the Research Triangle Park in North Carolina.

As principal consultants to IE’s delegation, we worked closely with the North Carolina Biotechnology Center and the Research Triangle Regional Partnership to host business meetings and create engagements with RTP area firms.  These included Quintiles, Duke Clinical Research Institute, Family Health International, POZEN Inc., Salix Pharmaceuticals, Novozymes North America, ImmunoBioSciences, Inc. and Rho Inc.

Filed Under: Clients Tagged With: biomedical, Biopolis, CRO, DCRI, drug discovery, Family Health International, ImmunoBioSciences, International Enterprise, NC Biotechnology Center, non-competitive procurements, Novozymes, pharmacodynamics studies, pharmacokinetics, POZEN Inc., Quintiles, Regional Triangle Research Partnership, Rho, RTP, Salix, Singapore

July 23, 2015 By Kim Chin

Client Feature: Ministry of Health

Objective: Design a policy framework that incorporates guidelines, protocols, technical standards and key performance indicators

Client: Ministry of Health

SingaporeAs the Ministry develops long-term plans to address growing healthcare infrastructure needs, it has established a number of steering committees and industry advisory groups to provide key inputs into resource allocation for a comprehensive national healthcare system.

McChin Healthcare Solutions worked with local healthcare leaders to review international best practices and identify global companies with innovative products and services.  This input helped design a policy framework that incorporated guidelines, protocols, technical standards and key performance indicators.

Filed Under: Clients Tagged With: advisory committees, policy development, policy framework, Sovereign Ministry of Health

July 23, 2015 By Kim Chin

Client Feature: U.S. Healthcare Portfolio

Objective: Manage the evaluation of REIT structures, construction and operating financing, and establishing alliance partnerships

Client: U.S. Healthcare Portfolio

Costa RicaOur client is a U.S. investment company with a diversified portfolio of assets that include commercial properties in Latin America and the Caribbean.

McChin Healthcare Solutions managed the evaluation of REIT structures, construction and operating financing, and established alliance partnerships with local physicians and international partners for the development of a technology-enabled ambulatory surgical center in Costa Rica.

Filed Under: Clients Tagged With: Costa Rica, McChin Healthcare Solutions, REIT structures

July 23, 2015 By Kim Chin

Client Feature: U.S. Healthcare Consortium

Client:  U.S. Healthcare Consortium

KuwaitObjective:  Assemble and manage an interdisciplinary telemedicine team responding to a Kuwaiti healthcare tender.

The State of Kuwait issued a 5-year $50 million tender for consortiums to provide comprehensive medical services to the Ministry of Health’s flagship Al-Sabah Hospital.

As lead consultant to the consortium, we identified and negotiated an agent agreement with a prominent Kuwaiti partner, assembled a multidisciplinary team comprising telemedicine and  clinical services, medical equipment and an academic medical university, and provided local on the ground support.

Filed Under: Clients Tagged With: McChin Healthcare Solutions, US Healthcare Consortium

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