Corporate digest

Health Management International

HMI has arranged a shareholder meeting on Oct 18 to vote on its management's joint bid with private equity investor EQT Mid Market Asia III GP BV (EQT GP) to privatise the healthcare company. The potential deal is being done through a scheme of arrangement that values HMI at about S$611 million.

Each HMI shareholder will be entitled to receive either S$0.73 in cash, or one new ordinary share at the same price in PanAsia Health, a special-purpose vehicle that is indirectly controlled by EQT GP. HMI will not hold its annual general meeting and issue its annual report for fiscal 2019 ended June 30 if the deal is approved by shareholders and sanctioned by the High Court.