Q&M Dental unveils plans to boost presence in Asia

Q&M Dental Group is ramping up its overseas presence in Asia, particularly in China and Malaysia.

It unveiled this yesterday as it announced the completion of its 108 million yuan (S$21.7 million) acquisition of a 60 per cent stake in Shenyang-based dental services company Aoxin Stomatology Group in China's Liaoning province. The Singapore-listed group has officially opened its Aoxin Q&M Children Dentistry Centre.

As part of its expansion, Q&M had previously also announced the proposed acquisition of two other hospital groups in north-eastern China, with memoranda of understanding (MOUs) signed with Donggang City Stomatological Hospital in Liaoning, and Weihai Meichen Hospital in Shandong province.

Q&M said in a statement: "The company also hopes to move upstream to be its own dental-product supplier, and downstream into dental distribution through the acquisition of dental materials manufacturers and laboratories in China."

For its overseas expansion plans, Q&M said that it would work with International Enterprise (IE) Singapore through its Global Company Partnership (GCP) assistance.

The group also announced yesterday that it had entered into a non-binding letter of intent with Baihe Stomatology Hospital LLC in Changchun, Jilin Province, to cooperate on Baihe's development and the exchange of knowledge. "The parties have agreed that future collaborations on specific projects (if any) will entail the signing of separate agreements," Q&M said.

These announcements came just as the dental group terminated its MOU relating to a proposed joint venture with Shenzhen New Perfect Exact Dental Research Co Ltd, as well as another to buy a dental practice in Kuala Lumpur.

It also terminated an MOU related to a strategic investment by Kunwu Jiu-ding Capital Co Ltd.

Q&M said the MOUs were terminated as the parties were unable to reach a definitive agreement on the proposed transactions.

The group's counter closed half a cent higher at 47.5 cents yesterday.