Novena Global Lifecare

Novena Global Lifecare Group was founded in 2016 by cousins Terence Loh and Nelson Loh, both former investment bankers at J.P. Morgan. Nelson found the idea of forming a medical aesthetic group when he found that his mother’s medical aesthetic bills running into thousands of dollars.^[4][5] One of their early investments was a KOSDAQ-listed medical equipment manufacturer in South Korea to develop their own research and manufacturing arm of the group. They also took interests in healthcare companies in Taiwan as well as the PPP chain of clinics in Singapore, renaming it to NOVU and NOVU Genesis.^[6] Prior to founding Novena Global, Terence and Nelson co-founded DORR Group, an Asia-based private equity group which invested in the consumer, internet, media and healthcare spaces.^[6] BT had reported that at least two entities - Novena Global Healthcare Pte Ltd and Novena Life Sciences Pte Ltd - set up in 2016 and 2018 respectively, have not filed annual returns, which include financial statements, since they were incorporated.^{[citation needed]}

In July 2017, the company announced plans for a potential future US$150mm Taiwan IPO.^[7] In January 2018, China's Sinopharm Capital and Cedarlake Huarong Investment acquired a stake in Novena Global Lifecare for US$20 million.^[8]

In 2019, Novena Global Healthcare Group appointed Lim Cheok Peng as Senior Advisor and Kenneth Thean as Senior Medical Director.^[9]

The Group provides predictive care through health screenings for early detection of diseases and nutritional supplements. In November 2017, the company acquired four specialist eyecare centers in Singapore. Two of the centers, Total EyeCare Center at Orchid Hotel and a branch in Jurong East, were owned by Gerard Chuah, a private eye surgeon specializing in vitreoretinal surgery.^[10] The other two clinics, Specialist Eye and Eyelids Clinic at Novena and The Eye and Aesthetics Clinic in Suntec City, were previously owned by Chuah Chin Tek.^[10]

In November 2017, the group announced that it will acquire majority stake of Taiwan healthcare provider, Hexin Group, the third-largest healthcare screening provider in Taipei, to manage the health screening services at Taipei Medical University Hospital, Taoyuan General Hospital, China Medical University Hospital and Taipei Beitou Hospital.^[11][12][13]

Novena Global provides rejuvenating care through aesthetic and wellness services, skin and body care products and post-natal care. Its flagship brand is NOVU Medical Aesthetic Clinic, with 50 clinics in Singapore, Malaysia, Indonesia, China, Korea and Spain^[14] In May 2017, the group partnered with Australian model and actress Jessica Gomes to launch Equal Beauty, a fragrance free line of skincare products designed for all skin types and races. Equal Beauty is a luxury Australian travel skincare brand suited for the modern jet setting woman.^[15] In November 2017, Novena Global opened a clinic in Madrid in Spain under the NOVU brand. In January 2018, Novena Global launched its new flagship clinic concept, NOVU Genesis.^[16] "NGHG is not wholly owned by the Lohs. The majority of the beneficial interest in NGHG is ultimately held by individual, private and institutional investors," said the board, adding that the firm is "wholly unconnected and unrelated to the Bellagraph Nova Group or Axington Ltd, and any of the allegations made in relation to the conduct of Nelson and Terence Loh" in the management of these entities.^[17]

NOVU is the flagship brand of Novena Global Lifecare Group with over 40 clinics in Asia including Singapore, Malaysia, Indonesia, China, South Korea, Myanmar and Spain. The clinic chain specialises in providing aesthetic and wellness services to the masses. It also manufactures and distributes a range of skin and body care products.^[18][19]