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Q&M Dental Group has entered a binding memorandum of understanding to acquire a 47.14 per cent stake in Shenzhen New Perfect Dental Research (SZNP) for 66 million yuan (about S$13.8 million). This translates into an effective interest of 33 per cent in the dental laboratory business that is carried out by 15 subsidiaries of SZNP.
SZNP is a company incorporated in China and is a dental prosthetic device provider with a focus on providing custom-made prostheses to dental patients.
Q&M Dental Group noted that the proposed acquisition is in line with its expansion into dental related industries and China, and that synergy is achieved between the company's main dental services business and the proposed acquisition to provide dental laboratory services.