SINGAPORE, July 09, 2026 (GLOBE NEWSWIRE) -- HCC Healthcare Pte. Ltd. (“HCC Healthcare” or the “Company”), a private company limited by shares incorporated in Singapore, today announced that it has signed a Business Combination Agreement (the “BCA”) with RF Acquisition Corp III (Nasdaq: RFAM) (“RF Acquisition”), a publicly traded special purpose acquisition company. Upon the closing of the proposed business combination, HCC Healthcare is expected to become a publicly traded company, with its securities listed on the Nasdaq Stock Market.

HCC Healthcare operates through its consolidated operating subsidiaries in Taiwan. On a pro forma basis, HCC Healthcare and its network of affiliated and allied care providers (together, the “Group”) will bring together an integrated care network of affiliated and allied hospitals, clinics, pharmacies, and long-term care institutions, to form one of the largest platforms for integrated medical and long-term care services in Taiwan. Across this network, the Group will provide medical transportation, medical consumables procurement, medical and long-term care education, and medical information and consulting services. 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, under a distinctive “hospital-within-an-eldercare-institution” ecosystem model. The Group also intends to advance Taiwan’s national long-term care agenda through community- and home-based services, including 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. Following the closing of the proposed business combination, HCC Healthcare intends to use the proceeds to accelerate the consolidation and integration of the Group into a unified platform, with the goal of expanding service capacity, improving care coordination, and extending the Group's reach.

Taiwan, Japan, and many other Asian economies are undergoing a rapid demographic transformation toward super-aged societies, a shift that the Company believes is generating substantial and growing demand for coordinated, comprehensive healthcare and long-term care solutions. HCC Healthcare is well positioned to meet this demand through its “one-stop” integrated care model, which is designed to bring together medical care, long-term care, caregiver support, rehabilitation, hemodialysis, pharmaceutical, infection-control, nutritional, and social-work services within a single coordinated framework.

The Group’s strategic growth roadmap is built on four priorities: (i) deploying a proprietary AI platform that integrates spatial intelligence, causal inference, and multimodal clinical data to strengthen decision support and operational performance across the affiliated care network; (ii) expanding into the Japanese market, leveraging the Group’s existing operational infrastructure and Japan’s advanced regulatory framework for regenerative medicine; (iii) developing cross-sector partnerships with fitness and wellness operators to create integrated care pathways spanning preventive health, chronic disease management, and rehabilitation; and (iv) accelerating investment in precision and regenerative medicine, including AI-driven biomarker profiling, to pursue personalized care delivery across the region.

“Signing this agreement is an important milestone in HCC Healthcare’s journey,” said Jack Hsiao, Chief Executive Officer of HCC Healthcare. “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, while creating long-term value for patients, partners, and shareholders.”

“We are excited to partner with HCC Healthcare and support their vision for integrated medical and long-term care in Asia,” said Tse Meng Ng, Chief Executive Officer of RF Acquisition. “This business combination agreement represents what we believe is a significant step forward in bringing HCC Healthcare’s innovative care model to the public markets, and we look forward to working together to help create value for patients, communities, and our shareholders alike.”

The BCA reflects a pre-transaction equity value of HCC Healthcare of approximately US$500 million. The transaction is expected to close in the fourth quarter of 2026, subject to the approval of RF Acquisition’s shareholders, the effectiveness of the Registration Statement on Form F-4 (the “Form F-4”) to be filed with the U.S. Securities and Exchange Commission (the “SEC”), and the satisfaction of other customary closing conditions.

Bedrock Investment Private Limited is acting as strategic consultant to HCC Healthcare. EarlyBirdCapital, Inc. is acting as financial advisor to RF Acquisition. K&L Gates LLP is acting as U.S. legal counsel to HCC Healthcare, and PricewaterhouseCoopers Legal is acting as HCC Healthcare’s Taiwan legal counsel. Winston Taylor LLP is acting as U.S. legal counsel to RF Acquisition.