Singapore Medical Group eyes snapping up pediatric clinics

It has entered into two separate framework agreements.

Singapore Medical Group has entered into two separate framework agreements with pediatricians to acquire pediatrics clinics.

Through its subsidiary SMG Kids Clinic Pte Ltd, the group is eyeing to acquire Children’s Clinic Central Pte. Ltd.; and Kids Clinic @ Bishan Pte. Ltd.

Here's more from the group:

The book value and net tangible asset value of the Target Companies will, following the completion of the Restructuring Exercise, be at least S$100,000. No independent valuation was conducted on the Target Companies.

Based on the latest completed financial year of the Target Business, the aggregate net profits after taxation of the Target Business was approximately S$3.20 million. After adjusting for the appropriate doctors’ remuneration, fair rental and reasonable administrative costs, the proforma aggregated net profits after taxation of the Target Business isapproximately S$2.30 million.