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Q&M to deepen China presence through JV partnership strategy with IE Singapore
DENTAL services provider Q&M said it is looking to deepen its presence in China through a "joint venture partnership" strategy with IE Singapore.
IE Singapore will introduce partners, facilitate discussions with partners across the value chain, including dental clinics, hospitals and equipment suppliers, and engage city and provincial governments closely. It will also support Q&M to expand its offerings across the entire dental service value chain, adding to their vision to become the leading integrated dental healthcare group in Asia.
Beyond China, Q&M is also partnering IE Singapore to expand actively in Malaysia.
The group shared its plans during the opening ceremony of a new office building by its joint venture partner Aidite in Qinhuangdao, Hebei province. The new building comprises a factory, research and development centre, training centre and one-stop dental clinic.
Q&M said that since 2009, it has been working closely with IE Singapore to expand its operations and offerings across the value chain in tier-1 and 2 cities in China.
For instance, IE Singapore facilitated Q&M's joint venture partnership with Shenyang Aoxin Stomatology Group (Aoxin).
Q&M noted that since its 60 per cent stake acquisition in Aoxin for S$22 million in 2014, it was able to tap Aoxin's network of three dental hospitals, three dental clinics and a dental training centre. This helped the group to entrench its presence in Northeast China and further expand its operations through Aoxin.