Mobile-health Network Solutions Intends To Acquire Lifepack, Expanding into Indonesia's Growing Healthcare Market

April 30, 2025 at 09:25 AM EDT

Singapore, Singapore--(Newsfile Corp. - April 30, 2025) - Mobile-health Network Solutions (NASDAQ: MNDR) ("MNDR" or "the Company"), a leading MedTech innovator ranked among Asia-Pacific's high-growth companies, today announced an agreement intending to acquire Indopacific Health Technology Pte. Ltd. and its subsidiaries, known as Lifepack, a leading pharmacy and telehealth platform in Indonesia ("Acquisition").

Focus on Indonesia

"This acquisition is a significant step for MNDR as we expand into Indonesia, a high-growth market," said Dr. Siaw Tung Yeng, PBM, Co-CEO and Senior Consultant Family Physician at MNDR. "Lifepack's platform aligns with Indonesia's primary care needs and complements our telehealth expertise. Through this partnership, we're building a telehealth-pharmacy solution that meets BPOM (Indonesian National Agency of Drug and Food Control) standards, serving 280 million people across 17,000 islands. We look forward to completing due diligence and finalizing this deal."

The Acquisition, added Dr. Siaw, would allow MNDR to combine its global telehealth platform with Lifepack's local expertise to serve many of Indonesia's primary care needs, including improved teleconsultations, prescription fulfillment, and healthcare delivery to remote areas, while emphasizing immunization, nutrition, and chronic disease management.

Dr. Siaw further commented, "By combining Lifepack's strong presence and understanding of the Indonesian market with MNDR's innovative telehealth capabilities, we believe we can create a truly transformative O2O healthcare platform that addresses the unique needs of Indonesian's diverse population and significantly impact healthcare delivery across the archipelago."

Lifepack: Enhancing Indonesia's Primary Care

Lifepack improves healthcare access in Indonesia, the fourth most populous nation globally, with over 280 million people and a growing demand for affordable medical services. Lifepack's hybrid model delivers BPOM-licensed prescription drugs, over-the-counter medications, supplements, and medical equipment through online and offline channels, serving millions nationwide. Lifepack also offers consultations with physicians and pharmacists, available via its mobile app and website, through WhatsApp and social media, and at physical locations, supported by an expanding warehouse network, to address chronic disease management and preventive care.

Compliant with Indonesia's BPOM regulations, Lifepack's scalable platform and steady user growth position it to lead the Indonesian digital pharmacy market. By supporting primary care needs, especially in remote and rural areas, Lifepack is a key part of MNDR's regional strategy.

MNDR would acquire Lifepack for up to US$7.2 million, contingent upon Lifepack achieving its revenue target for 2025. The consideration for the Acquisition is expected to be satisfied through the issuance of up to 875,000 new MNDR Class A Ordinary Shares, valued at an issue price of US$8 per share, alongside a non-refundable cash payment of US$0.2 million. The US$8 per share issue price represents a substantial premium to MNDR's current share price of approximately US$1.42 as of April 29, 2025, underscoring the perceived value and future potential of the combined entity. Subject to due diligence and execution of definitive agreements, the deal is expected to strengthen MNDR's presence in Southeast Asia through partnerships with Indonesian healthcare stakeholders.

"We look forward to completing the current due diligence process and proceeding to the completion of this Acquisition," said Dr. Siaw.

About Mobile-health Network Solutions

Ranked #41 in the Financial Times 2024 listing of 500 High-growth Asia-Pacific Companies, we are the first telehealth provider from the Asia-Pacific region to be listed in the US. Through our platform, we offer personalized and reliable medical attention to users worldwide. Our platform allows our community of healthcare providers to have broader reach to users through virtual clinics without any start-up costs and the ability to connect to a global network of peer-to-peer support groups and partners. Our range of seamless and hassle-free telehealth solutions includes teleconsultation services, prescription fulfillment and other personalized services such as weight management programs and gender-specific care. For more information, please visit our website.

About Lifepack
Lifepack is a pharmacy service that offers a variety of over-the-counter medications, prescription drugs, supplements, and medical equipment at affordable prices. The company provides original products, licensed by BPOM, and delivers across Indonesia. Lifepack services are available both online and offline, accessible through its website, social media channels, WhatsApp, and its mobile app.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's ability to execute our strategies, manage growth and maintain our corporate culture; the Company's future business development, financial conditions and results of operations; expectations regarding demand for and market acceptance of our products and services; changes in technology; economic conditions; the growth of the telehealth solutions industry in Singapore and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Singapore and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Mobile-health Network Solutions specifically disclaims any obligation to update any forward-looking statement, whether because of new information, future events or otherwise, except as required by law.

For media inquiries, please contact:
Mobile-health Network Solutions
2 Venture Drive, #07-06/07 Vision Exchange Singapore 608526
(+65) 6222 5223
Email: investors@manadr.com

Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5^th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com

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To view the source version of this press release, please visit https://www.newsfilecorp.com/release/250291

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Mobile-health Network Solutions Intends To Acquire Lifepack, Expanding into Indonesia's Growing Healthcare Market

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