AsiaMedic to acquire LuyeEllium Healthcare for S$42.2 million

ASIAMEDIC has entered into a conditional sale and purchase agreement with the shareholders of LuyeEllium Healthcare to acquire the company for S$42.2 million.

LuyeEllium provides hospital management services to hospitals in South Korea and China.

The consideration will be fulfilled via the issuance of 527.1 million new shares, at the issue price of eight Singapore cents per share.

Upon completion of the proposed acquisition, it will be a wholly owned subsidiary of the AsiaMedic.

AsiaMedic will be appointing an independent valuer to prepare a valuation report on LuyeEllium.