Singapore Medical Group will own an effective interest of 13% stake in said company.
The Singapore Medical Group (SMG) and CHA Healthcare Co. Ltd, a subsidiary of CHA Medical Group, have acquired 65% stake in the Australia-based in vitro fertilisation (IVF) company, CFC Global Pty. Ltd.
The share purchase agreement was made through CHA-SMG consortium, which aims to explore and invest in acquisition opportunities in Australia. SMG owns 20% equity interest in the joint venture company.
In line with this, SMG will have an effective interest of 13% stake in CFC upon completion of the deal.
According to Dr. Beng Teck Liang, executive director and CEO of SMG, the “growing number of delayed pregnancies among women, rising awareness pertaining to infertility, and the availability of favorable reimbursement systems are driving aggressive growth in the global IVF market.”
As such, SMG aims to extend IVF services to other countries in Southeast Asia, particularly in Vietnam.
CFC owns and operates the City Facility Centre, which offer a full range of fertility services including pre-IVF solutions (such as intra-uterine insemination and ovulation induction), IVF, fertility preservation, family banking, genetic screening, LGBT services, egg freezing and egg and sperm donor programmes.
The City Facility Centre already has seven clinics located in Brisbane, Melbourne, Adelaide, Sydney, and the Gold Coast.
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