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ASIAMEDIC has entered into a binding term sheet to acquire LuyeEllium Healthcare Co for some S$42.17 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 S$0.080 per share. This represents a 6 per cent premium to the volume-weighted average price of S$0.0755 of AsiaMedic's shares on Jan 20.
AsiaMedic said: "The proposed acquisition represents a good opportunity for the group to broaden the range of healthcare services it offers. In addition to the existing advanced diagnostics imaging and wellness services, (it) will enable the group to provide non-clinical support and consultancy services to medical institutions as well as be involved in the operation of the post-partum centre. The proposed acquisition will also widen the geographical reach of the group from Singapore to South Korea and China."