Q&M strikes partnership with IMC Group

A HEALTHCARE private equity fund seeded by Singapore-headquartered IMC Group has become a substantial shareholder of Q&M Dental Group (Singapore) with a stake of 10 per cent which it acquired from existing shareholders for $29.1 million.

Heritas Helios Investments (HHI), which paid 48 cents per share for about 60.5 million shares, has separately entered into a strategic partnership with Q&M with a two-year call option which, if exercised, will give it a further stake of 63 million new shares at a minimum price of 48 cents. This will be approximately 9.42 per cent of Q&M's enlarged issued capital (excluding treasury shares).

HHI is managed by Heritas Capital Management, a wholly owned subsidiary of IMC, a privately held global multi-industry business group with a strong presence in China.