Q&M Dental has completed the acquisition of the remaining 51% of shares that it does not already own in associate EM2AI, according to a bourse filing on Apr 11.
The dental group first announced its acquisition plans on March 31, for a consideration of 1.606 million ordinary shares worth $1.76 million.
EM2AI has been a 49% owned associate company of Q&M Dental since March 5, 2024, when the company completed a partial loan conversion. The 51% was previously owned by an investment holding company in which Q&M Dental’s executive director and group CEO Ng Chin Siau is a major shareholder of.
EM2AI was incorporated on Nov 12, 2018 and is engaged in developing AI for dental pathology detention, dental treatment planning through clinical dental support system and clinical management system through integrated dental management system.
EM2AI is a loss making entity which has incurred $1.39 million in losses since its incorporation. The net assets value of EM2AI is $1.76 million.
Q&M Dental says that full control of EM2AI enables the group to maximise synergies, integrate operations and enhance efficiencies, as well as provide holistic and cost-effective support towards the group’s strategic direction and growth plans.
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The full acquisition of EM2AI will allow it to accelerate its transition to a fully digital dental ecosystem and help standardise treatment protocols across its clinics, ensuring high-quality patient care.
Shares in Q&M Dental closed 0.5 cents higher or 1.923% up at 26.5 cents on Apr 11.
