QT Vascular in talks to acquire dental businesses

MEDTECH Company QT Vascular is in advanced negotiations with “certain independent third parties” to acquire their shares in certain dental businesses, it said in a Thursday (Jun 16) holding statement. 

The announcement said that discussions are ongoing and there is no certainty or assurance of definitive transactions as a result of these negotiations.

“Shareholders and potential investors should exercise caution when trading in the shares of the company,” it said.

QT Vascular has made previous efforts to acquire dental practices. It announced in March this year that its 60 per cent-owned subsidiary had entered into conditional sale and purchase agreements to acquire the businesses of 3 Eastern Dental Surgery clinics.

In December last year, the Catalist-listed company underwent boardroom struggles as requisitioning shareholders attempted to oust existing board members. QT Vascular also planned to issue new shares to repay its debt to several creditors, which would reduce the voting power of the requisitioning shareholders.

Former chief executive Eitan Konstantino, who was among the creditors, had stepped down in November that year in response to efforts to unseat him.

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Shares of QT Vascular closed flat at 0.5 Singapore cent on Thursday, before the holding announcement.