Singapore-incorporated private healthcare company HCC Healthcare has signed a business combination agreement with a Nasdaq-listed special purpose acquisition company, paving the way for a public listing to fund the scaling of its integrated care model across Asia.

According to a report by The Manila Times, HCC Healthcare has entered into the agreement with RF Acquisition Corp III, with the proposed business combination expected to result in HCC Healthcare's securities being listed on the Nasdaq Stock Market. The transaction is intended to provide the capital and platform needed to consolidate and expand the group's integrated care network, initially in Taiwan and Japan.

On a pro forma combined basis, the network is expected to encompass more than 120 long-term care facilities and over 9,000 beds, including one of the largest caregiving institutions in Taiwan with more than 1,300 beds. The group operates under a distinctive hospital-within-an-eldercare-institution ecosystem model, providing medical transportation, pharmaceutical procurement, long-term care education, and medical information and consulting services. Community and home-based services currently include case management for more than 7,000 individuals, with operations concentrated in Northern Taiwan, a region representing approximately one-third of the country's population.

Jack Hsiao, Chief Executive Officer of HCC Healthcare, said: "As Asia enters a super-aged era, we believe an integrated, technology-enabled model of medical and long-term care is essential. We further believe that a Nasdaq listing would give us the platform and resources to scale that model, first in Taiwan and Japan, and ultimately across the region."

Tse Meng Ng, Chief Executive Officer of RF Acquisition, said the business combination agreement represents "a significant step forward in bringing HCC Healthcare's innovative care model to the public markets."

HCC Healthcare's strategic growth roadmap is built on four priorities: deploying a proprietary AI platform integrating spatial intelligence and multimodal clinical data; expanding into Japan through its existing operational infrastructure; developing cross-sector partnerships with fitness and wellness operators to create integrated preventive and chronic disease care pathways; and accelerating investment in precision and regenerative medicine, including AI-driven biomarker profiling.

For private healthcare operators and investors, the transaction reflects the intensifying capital market interest in large-scale, technology-enabled long-term care platforms across Asia, where rapid demographic ageing is generating structural demand for coordinated, comprehensive care solutions at a pace that few domestic operators are positioned to meet without significant external capital.