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Raffles Medical to buy chain of clinics in China, Indochina for US$24.5m

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Raffles Medical Group is buying a chain of 10 clinics in China, Vietnam and Cambodia for US$24.5 million in cash, the hospital and clinic operator announced early Monday.

RAFFLES Medical Group is buying a chain of 10 clinics in China, Vietnam and Cambodia for US$24.5 million in cash, the hospital and clinic operator announced early Monday.

The purchase of privately held International SOS (MC Holdings) will be internally funded.

The target company had net tangible asset value of about US$5.3 million as at June 30, 2015, and book value of US$5.4 million.

Raffles Medical does not expect any material impact on earnings per share and net tangible assets per share for the year ending December.

Shares of Raffles Medical last traded at S$4.35 before the weekend.

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