Published:
Q&M Dental to acquire TP Dental for $28.6m
It will be paid in cash and shares.
Q&M Dental today revealed that it will fully acquire TP Dental, a modern multidisciplinary centre offering a complete range of dental services.
The total consideration for the deal is $28.6m, out of which $18m will be paid in cash. The remaining $10.6m will be paid by the issuance of Q & M’s shares at an issue price of $0.70668 per share, a 10% discount to the volume weighted price of trades done on 24 April 2015.
TP has a profit target of $4m every 2 years for 8 years. Its key dentist in charge, Hwang Yee Cheau, will sign a 10-year service agreement with Q&M.
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