Q&M Dental Group (Singapore) plans to acquire another local dental chain, which is not named.
The exact terms of this deal have yet to be finalised, but under terms of a non-binding MOU, the acquisition will come with a profit guarantee of up to $34 million over 5 year, plus a 15-year service agreement with the sellers.
Q&M plans to pay for the acquisition via a mix of cash and shares.
The acquisition is part of its strategy to "continue strengthening and expanding its dental business in Singapore, which remains its core market.
"The acquisition is intended to support the company’s ongoing growth in Singapore by enhancing its existing network and capabilities in the domestic market," says Q&M.
Last year, Q&M announced plans to acquire an unnamed dental group in Thailand. Thus far, the deal has not been finalised.
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Q&M shares closed at 53 cents on March 3, up 0.96% for the day and is up 87.5% in the past year.
