Boustead buys entire WhiteRock medical group for S$19m

Singapore

BOUSTEAD Singapore announced on Thursday it has entered into a sale-and-purchase agreement with WhiteRock Medical Company (WhiteRock MedCo) to fully acquire WhiteRock Incorporation (WRI), a group of 16 healthcare corporations operating in Singapore, China, Hong Kong, Malaysia and Thailand, for S$19.02 million.

Boustead said the acquisition's value was arrived at after taking into account WRI's adjusted unaudited net asset value and net tangible asset value, as well as its historical financial performance and future business prospects.