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Singapore Medical Group acquires stake in local aesthetics clinic, proposes rights issue

SMG plans for mergers and acquisitions, business expansion

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SW1 was set up by founders of The Sloane Clinic, Low Chai Ling and Kenneth Lee, in December last year with a S$1 million investment. The 7,000 sq ft centre, which has a team of five medical aesthetics practitioners and one plastic surgeon, broke even within the first two months of operations.

Singapore

CATALIST-LISTED Singapore Medical Group (SMG) is acquiring an 85 per cent stake in Pheniks which operates local aesthetics clinic SW1, with plans to expand the brand across the region.

SMG will pay up up to S$6.5 million, with up to S$3 million paid in cash over three

sentifi.com

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