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SMG buys women's health clinic group for S$60m

Tuesday, October 11, 2016 - 14:04

CATALIST-LISTED Singapore Medical Group (SMG) has inked a deal to buy Astra Women's Specialists for S$60 million, it said in a press release Tuesday afternoon.

The total sum will be paid via S$33 million in several cash tranches plus the issue of new shares worth S$27 million combined at an issue price of S$0.33288 apiece, it said.

The Astra Women's Specialist group of clinics is made up of six obstetrics and gynaecology (O&G) clinics and five doctors, which will bring the number of O&G doctors under SMG up to eight after the acquisition, it noted.