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Q&M Dental to acquire 8 clinics for S$20m
Q&M Dental Group plans to acquire eight dental clinics in Singapore for a total of S$20.30 million to be paid in cash and shares.
Towards this end, the firm has signed three separate points of agreements which also includes the vendors providing guarantees and profit targets amounting to some S$16.10 million, said the firm in an announcement.
The first agreement involves Q&M Dental's proposed acquisition of 100 per cent of Orchard Scotts Dental and the dePacific Dental Group of clinics located at Ang Mo Kio, Balestier, Jurong West and Pasir Ris for S$12.5 million to be settled half in cash and the remaining by issuing Q&M shares at 71.1 Singapore cents per share.
The firm has also proposed the acquisition of 100 per cent of Tiong Bahru Dental Surgery Pte Ltd and Bright Smile Dental Surgery Pte Ltd for S$3.8 million - S$2.60 million to be paid in cash and the remaining through Q&M shares.
Thirdly, Q&M has proposed to wholly acquire Aesthetics Dental Surgery in Park Mall (along Penang Road) for S$4 million, half of which will be paid in cash and the other half in shares.
The announcement closely follows last month's proposed acquisition of TP Dental Surgeons for S$28.60 million.
Upon completion of these deals, Q&M will have 69 dental clinics located island wide while its team of dentists will increase from 180 to 225.