TMC Life buying JB's Thomson Medical Hub for RM400m

Singapore

MALAYSIA-listed TMC Life Sciences, a healthcare operator controlled by Singapore billionaire Peter Lim, has announced plans to buy Thomson Medical Hub in Johor Baru for RM400 million (S$151.2 million). This will be done through the acquisition of BB Waterfront, which owns Thomson Iskandar, a RM2 billion medical hub project sitting on 1.6 hectares of freehold land.

The vendor is Best Blend, which is 70 per cent owned by Mr Lim and 30 per cent by Johor crown prince Tunku Ismail Idris Ibni Sultan Ibrahim. TMC said this deal is in line with its plan to expand beyond the Klang Valley and will transform it into a major healthcare player in Malaysia. In its Friday announcement, TMC said that it has entered into an agreement with Best Blend to acquire BB Waterfront for RM400 million. This will be settled by issuing 533.3 million new TMC shares at RM0.75 each, together with 266.7 million free warrants.