Meta Health (SGX:5DX) has signed a non-binding term sheet to acquire up to 30% of Aios Bio Sciences, a medical device company, according to a Wednesday filing on the Singapore Exchange.

The deal may also involve a larger stake. Payment could be made through the issuance of new shares in Meta Health, subject to due diligence and further negotiations.

The acquisition aims to diversify Meta Health's business into medical consumables and point-of-care diagnostics. The transaction is contingent on due diligence, board approval, and a 60-day exclusivity period.