Q&M Dental set to acquire a Singapore dental group
The company intends to buy 100% of the issued share capital of the local dental group
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[SINGAPORE] Q&M Dental Group on Wednesday (Mar 4) said it has entered a non-binding memorandum of understanding regarding the acquisition of an unnamed Singapore dental chain.
The company intends to acquire 100 per cent of the issued share capital of the local dental group.
The purchase consideration will be satisfied by Q&M Dental via a combination of cash and new ordinary shares, to be issued by the company.
This move will reportedly have a profit guarantee of up to S$34 million over a period of five years, and a 15-year service agreement to be entered into by the sellers.
It is aligned with the group’s strategy to “continue strengthening and expanding its dental business in Singapore”, which remains its core market.
“The acquisition is intended to support the company’s ongoing growth in Singapore by enhancing its existing network and capabilities in the domestic market,” Q&M Dental said.
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Q&M Dental declined to share further details of the target acquisition upon additional queries from The Business Times, due to confidentiality and competitive reasons at this juncture, though it highlighted that the group to be acquired is “big”.
Shares of Q&M ended S$0.01 or 1.9 per cent lower at S$0.515 on Wednesday.
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