NOVA MSC Bhd, a leading provider of industry-focused application software and services for the healthcare sector, has appointed Evolve Capital Advisory Pte Ltd for the proposed listing of its subsidiary Dex-Lab Pte Ltd – a social robotics innovator – on the Singapore Exchange’s (SGX) Catalist Board.
This appointment marks a significant milestone in Dex-Lab’s progression from Singapore’s first mover in eldercare humanoid robotics to a fast-scaling provider across Asia-Pacific and Australia.
As it is, the proposed IPO (initial public offering) remains subject to due diligence, finalisation of transaction structure, market conditions and approvals from both Nova MSC’s shareholders and the relevant stock exchanges.
Founded in Singapore in 2020, Dex-Lab develops humanoid social robots designed specifically for eldercare and dementia care environments.
Robotics for an ageing world
Its current flagship robots – DEXIE and DAISY – deliver structured programmes including cognitive stimulation, mobility exercises, music therapy and multi-lingual conversation and social engagement programmes.
The solutions are developed to complement as opposed to replacing human caregivers by reducing manual workload and enabling consistent, meaningful interaction for seniors.
Dex-lab’s solutions have gained strong market adoption in Singapore, evidenced by active deployments with leading care providers, including:
- Singhealth Community Hospitals
- PeaceHaven Nursing Home
- MWS Nursing Home
- All Saint Homes
- Bright Hill Evergreen Nursing Home
- Lion’s Home for the Elderly
- St Andrew’s Nursing Home
Independent studies conducted with a major public healthcare cluster have reported measurable improvements with documented outcomes that include:
- About 32% rise in positive patient engagement
- 46% of participants showing cognitive improvements
- Up to two hours of staff time re-allocated per session
- Improved staff-to-patient ratios from 1:3 to as efficient as 1:5-6
These results – combined with deployments in Australia and showcases in Hong Kong – affirm Dex-Lab’s position as an emerging leader in social robotics within the Asia-Pacific region.
“Dex-Lab has grown rapidly in Singapore with proven outcomes and attracts strong interest from care providers and institutions,” enthused Nova MSC’s executive chairman Sunny Loh Guan Huat.
“The caregiving sector worldwide is under intense pressure. Thankfully, our humanoid social robots, DEXIE and DAISY are able to provide meaningful and complementary support to care teams and deliver measurable benefits to the residents.
Added Loh: “With global demand rising for eldercare robotics, we believe the time is right to explore a SGX listing.
“The appointment of Evolve Capital is a key step as Dex-Lab prepares for regional scale-up. A SGX listing will help Dex-Lab accelerate market expansion, enhance its R&D (research & development) and strengthen its global position.”
The sector Dex-Lab operates in is experiencing rapid global acceleration. Social robots, humanoid systems and digital eldercare technologies are gaining traction as healthcare systems confront rising care demand, shrinking labour supply and ageing demographics.
Global market drivers include:
- Social robots market projected to surpass US$40 bil within the next decade;
- Humanoid robotics are expected to grow strongly through 2030 and beyond;
- The dementia-care market is estimated to reach US$40.6 bil by 2034; and
- The will be 1.4 billion people aged 60+ globally by 2030, rising to 2.1 billion by 2050.
Against this backdrop, Dex-Lab is expanding across key Asian markets and Australia that face some of the world’s fastest-ageing populations.
The company is building on completed and on-going pilots in Singapore, Australia and Hong Kong in addition to evaluating its business opportunities in Malaysia, China and the Middle East, among others.
At the close of today’s (Dec 1) market trading, Nova MSC was up 1 sen or 22.22% to 5.5 sen with 1.82 million shares traded, thus valuing the company at RM118 mil. – Dec 1, 2025
