Market Share and Pricing Safeguards for Private Equity-backed Nursing Homes
Kenneth Tiong Boon Kiat questioned the impact of the recent merger of Singapore's largest private nursing home operators on market share, government funding, and safeguards against price increases. Ong Ye Kung responded that the merged operators will hold approximately 10% of the nursing home market, and the merger was deemed not to significantly reduce competition. The government funds capital costs for nursing home development through the Build-Own-Lease model, encouraging diverse operator participation and ensuring that government operating subventions are allocated based on subsidized market share.