Parkway Laboratory Services Ltd was first incorporated under the name of "Fire Fighting Factors Pte Ltd" in 1983. The name was subsequently changed to "Mount Elizabeth Lithocare (S) Pte Ltd" in 1988 when the company commenced, within the premises of Mount Elizabeth Hospital, the business of operating Lithotripsy machines used for treating kidney patients with stones.

In 1991, with the change in our business from the operation of Lithotripsy machines to the operation of a comprehensive diagnostic laboratory, the name of the company was changed to Mount Elizabeth Healthcare Services Pte Ltd (MEHCS). We provide services to the inpatients and outpatients of Mount Elizabeth Hospital, as well as patients referred to us by the medical specialists operating in the Medical Centre annexed to the hospital and medical practitioners operating outside the Medical Centre. East Shore Hospital was acquired by NME Asia Pte Ltd in 1989 and NME Asia in turn was acquired by Parkway Holdings in 1995. With the formation of MEHCS in 1991 by NME Asia, the laboratory of East Shore Hospital was put under MEHCS. In 1992, as part of our expansion plans, the reference laboratory at Henderson Industrial Park was established. In 1994, Mount Elizabeth Healthcare Services Pte Ltd became the first medical laboratory in the Asia Pacific to achieve BVQI ISO 9002 Quality Certification.

In 1995, Parkway Holdings Ltd acquired the medical business and operations in Singapore of Tenet Healthcare Corporation through the acquisition of Tenet Healthcare Corporation's wholly owned subsidiary NME Asia Pte Ltd for a consideration of approximately US$243.3 million. NME Asia Pte Ltd was a holding company for all of Tenet Healthcare Corporation's medical business and operations in Singapore. Following the completion of the acquisition, Parkway Holdings Limited became the holding company of NME Asia Pte Ltd and its subsidiaries, including, inter alia, Mount Elizabeth Hospital Ltd, East Shore Hospital Pte Ltd and Mount Elizabeth Healthcare Services Pte Ltd. NME Asia Pte Ltd was eventually renamed "Parkway Group Healthcare Pte Ltd" and all the pre-acquisition healthcare related businesses of Parkway Holdings Limited, most notable being Gleneagles Hospital Ltd, were transferred to Parkway Group Healthcare Pte Ltd.

In a move to reap synergies from the operations of all our laboratories, the diagnostic laboratory at Gleneagles Hospital was integrated with the diagnostic laboratories of the company in 1996. The diagnostic laboratory at Gleneagles Hospital was set up in 1990 to provide comprehensive diagnostic laboratory services to the inpatients and outpatients of Gleneagles Hospital, as well as to the patients referred to it by the medical specialists operating in the Medical Centre annexed to the hospital. With the integration, the reference laboratory at Henderson Industrial Park became the headquarters of the company. In 1997, Mount Elizabeth Healthcare Services Pte Ltd was renamed Parkway Laboratory Services Pte Ltd. Our business is the provision of diagnostic laboratory services to the inpatients and outpatients of the Parkway Group Hospitals, as well as to the patients referred to us by the medical specialists operating in the Medical Centres and other medical practitioners who operate outside the Medical Centres and in this region.

The company was listed on the Singapore Exchange on 19 April 2000. Following our listing, our share price surged 83.8% to end the year at 62.5 cents. Our strategy for continued success is based on acquisition of new technologies and introduction of further automation into our laboratory services in order to maintain our competitiveness and leading edge in the industry. On 13 March 2002, Drayson Investments Pte Ltd, a wholly-owned subsidiary of Parkway Holdings Limited, announced its intention to make a voluntary cash offer to acquire all the issued shares in the company at $0.66 in cash per share. In May 2002 our new reference laboratory is set up at 28 Ayer Rajah Crescent that also serves as our headquarters.