Basel Medical Group (BMGL) plans to acquire $1 billion worth of the Bitcoin (BTC) cryptocurrency, according to a…

Basel Medical Group (BMGL) plans to acquire $1 billion worth of the Bitcoin (BTC) cryptocurrency, according to a Friday statement. The purchase will “diversify its treasury reserves to a very large extent, while maintaining its core focus on medical services expansion,” the company said.

“BMGL is in advanced discussions with a consortium of institutional investors and high-net-worth individuals, who are influential in the crypto space, to acquire a US$1 billion BTC through an innovative share-swap arrangement,” Basel Medical said Friday. “Management believes that this landmark transaction, if successful, will represent one of the largest corporate balance sheet enhancements in the Asia-Pacific healthcare sector.”

Basel Medical added that its planned bitcoin purchase will fund multiple ventures. These include creating one of the strongest balance sheets among Asia-focused healthcare providers, providing financial flexibility for mergers and further acquisitions; establishing a diversified asset base to weather market volatility; and positioning BMGL as a well-capitalized medical group in emerging Asian markets. With more companies in the Asian markets looking to expand investments into digital assets, Basel Medical is making one of the largest investments yet.

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Dr Darren Chhoa, Chief Executive Officer of BMGL, emphasized, “This US$1 billion financial transformation will give us unprecedented capacity to execute our Asia growth strategy while maintaining conservative financial management. Our expanded balance sheet will allow us to move quickly on strategic opportunities as we build a premier healthcare platform across high-growth Asian markets.”

Basel Medical plans to finalize the Bitcoin purchase by the end of Q2 2025.
The acquisition involves a share-swap arrangement with institutional investors and high-net-worth individuals, and is pending regulatory approval.