SINGAPORE, [August 7, 2026 ]
Embed Financial Group Holdings Pte Ltd (EFGH), a Singapore-headquartered digital financial infrastructure company, and iHG, a Singapore-based fin-medtech company, have signed a strategic partnership agreement to co-develop a wearable device for older adults. The agreement, effective 30 July 2026, sets out a framework under which the two companies will design technology for real-time location tracking, fall detection and proactive health monitoring. Specific product timelines, features and funding will be defined in separate work agreements the companies plan to sign under the framework.
Why Now
The partnership comes as Singapore crosses a demographic milestone: 2026 is the year the country becomes a "super-aged society," with more than one in five residents now aged 65 or older, according to Singapore government population data. The shift has put pressure on healthcare systems, caregivers and technology providers to find practical ways to keep older adults safe and independent for longer. EFGH and iHG say their agreement is a first step toward addressing that gap by combining financial infrastructure with health monitoring technology.
Under the agreement, EFGH brings capabilities in embedded finance, programmable protection and cross-border digital systems. iHG operates a digital health platform called 1doc, which includes virtual health cards, digital wallets, telemedicine and AI-powered health monitoring, alongside corporate wellness programmes. The companies say the wearable project will draw on both sets of capabilities: iHG’s health monitoring technology and EFGH's ability to embed financial and protection features into everyday services.
Deal Structure
The agreement is structured as a multi-year framework. It runs for an initial three-year term and renews automatically each year unless either party gives 60 days' written notice. Individual projects, including the senior safety wearable, will be governed by separate statements of work executed under the framework. The agreement is non-exclusive, meaning both companies remain free to pursue similar partnerships with other organizations.
The two companies also outlined longer-term ambitions under the framework, including an integrated healthcare and wellness ecosystem in Singapore and, over time, exploring nutraceutical products for other markets. Those elements are stated as long-term direction in the agreement rather than committed projects with fixed timelines, and further details will follow as specific work agreements are finalised.
Quotes
"This partnership puts EFGH's infrastructure to work on a problem that affects families across Singapore: how to keep older parents and grandparents safe without taking away their independence," said Dennis Ng, Executive Chairman of EFGH. "We are starting with a clear, practical goal - a wearable that can detect a fall and alert a caregiver in real time - and building the financial and protection layer around it."
"Singapore’s ageing population calls for a new model of care. One that is proactive, connected and continuous. At iHG, our mission is to transform healthcare from treating illness to preventing it. By combining AI-powered health monitoring with EFGH’s digital infrastructure, we are creating an intelligent safety companion that not only detects emergencies such as falls, but also supports healthier ageing every day. This partnership represents another milestone towards our vision of enabling every senior to live independently with dignity, confidence and peace of mind,” said Lilian Koh, Director of iHG.
What's Next
EFGH and iHG will negotiate and execute individual statements of work under the framework, starting with the senior safety wearable. Product specifications, timeline and launch details will be announced once the first statement of work is finalized.
About EFGH
EFGH is a Singapore-headquartered digital financial infrastructure group that partners with governments, regulated financial institutions and enterprises to deploy embedded finance at scale. Its capabilities include programmable payments, embedded insurance, cross-border digital systems and blockchain-based trust infrastructure. EFGH operates via a B2B2C model across markets in Asia and Africa. EFGH has entered into a definitive business combination agreement with a U.S.-listed special purpose acquisition company, ahead of a proposed listing on a major U.S. exchange.
About iHG
iHG is a Singapore-based fin-medtech company that integrates healthcare, financial technology and AI to deliver personalised, predictive and preventive healthcare. Through its 1doc platform, iHG operates a digital health ecosystem comprising virtual health cards, digital wallets, telemedicine, AI-powered health monitoring, corporate wellness programmes and connected medical services — combining digital health, payments and data-driven interventions into a single platform.
Forward-Looking Statements
This press release contains statements that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended as well as Section 21E of the Securities Exchange Act of 1934, as amended, and the Private Securities Litigation Reform Act of 1995, as amended. These forward-looking statements, which are based on certain assumptions and describe EFGH's future plans, strategies and expectations, can be identified by terminology such as "anticipate," "estimate," "forecast," "plan," "project," "potential," "continue," "ongoing," "expect," "aim," "believe," "intend," "may," "should," "will," "is/are likely to," "could" and similar statements. Statements that are not historical facts, including statements about EFGH's beliefs, plans, and expectations, are forward-looking statements. Important factors could cause EFGH’s actual results and financial condition to differ materially from those indicated in the forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, such as our ability to pursue any specific projects with iAPPS and our ability to recognize any revenue therefrom. All information provided in this press release is as of the date of this press release, and EFGH does not undertake any obligation to update any forward-looking statement, except as required under applicable law
Media Contact
Eugene Leow
Deputy Group CEO EFGH
eugene.leow@embedfinancialgroup.com
+65 98779801
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