Livingstone Health Holdings is set to acquire 20% of shares in Affinity Surgery Centre for a consideration of $470,000.
Affinity Surgery Centre is a company incorporated in 2013 in Singapore which provides services ranging from diagnosing and carrying out specialized treatments, and gastroscopy, colonoscopy and cancer screening. It is helmed by Dr Chen Chung Ming.
Livingstone says that this acquisition is an accretive acquisition, consistent with the company’s strategic plans to continue broadening its team of specialist doctors.
The group says that it has been exploring strategic acquisition plans and/or new business opportunities to grow its healthcare business to enhance its customer base through cross-referral networks across medical disciplines, with the aim of providing a seamless and all-rounded care for its patients.
The purchase consideration was arrived at after taking into account the medical licence, qualification and experience of Affinity Surgery Centre, potential contributions to the group’s ecosystem, and the net profit after tax of Affinity Surgery Centre, among other reasons.
The financial effects of the proposed acquisition on the net tangible asset (NTA) per share and earnings per share (EPS) of the group are as follows.
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The NTA per share will be 0.37 cents, and earning per share will increase to 0.11 cents.
Livingstone will fund the acquisition through its internal resources.
Shares in Livingstone closed 0.1 cent lower or 3.448% down at 2.8 cents on Nov 21.
