In three separate deals, Singapore-listed Q&M Dental Group has acquired eight clinics in Singapore for S$20.3 million (US$15.2 million). These acquisitions come hot on the heels of Q&M’s acquisition of TP Dental Surgeons, a large and established surgery in Ngee Ann City Tower B, for S$28.6 million at the end of April.
The first is the acquisition of Orchard Scotts Dental and the De Pacific Dental Group of clinics located at Ang Mo Kio, Balestier, Jurong West and Pasir Ris for S$12.5 million. Half will be paid for in cash, the remainder with shares at a 10% discount.
The second is the acquisition of Tiong Bahru Dental Surgery and Bright Smile Dental Surgery Pte Ltd for S$3.8 million. Here S$2.60 million will be paid in cash with the rest in shares at Q&M’s issue price of S$0.711.
The third is the acquisition of Aesthetics Dental Surgery in Park Mall for S$4 million. Half will be paid in cash, the remainder in shars, again at Q&M’s issue price of S$0.711.
In all three acquisitions the current owners have agreed both profit targets and have signed service agreements of between six and 10 years.
Q&M Dental now has 69 dental clinics across the island state with 225 dentists.
At lunchtime today Q&M’s shares were 6.28% higher at S$0.845.
