Singapore Medical Group to acquire obstetrics and gynaecology clinics

The purchase consideration sits at $60m.

Mainboard-listed Singapore Medical Group Ltd. has entered into a framework agreement to acquire obstetrics and gynaecology companies across the city-state. The inked deal is worth $60 million in total.

The group inked the agreement with several vendors including Dr. Chan Weng Buen, Dr. Henry Cheng Hung, Dr. Tho Chin Keong, Dr. Lee Weng Soon James, and Dr. Fong Yang for the said acquisition.

"Each of the vendors are obstetricians and gynaecologists, and are recognised and accredited by the Ministry of Health, Singapore,” the group said in an announcement filed in Singapore Exchange.

The companies comprise Astra Women’s Specialists (WB) Pte. Ltd., The Women’s Specialist Centre (HC) Pte. Ltd., Fong’s Clinic For Women & Fertility Pte. Ltd., Astra Centre for Women & Fertility Pte. Ltd., The London Clinic & Surgery For Women Pte. Ltd., James Lee Healthcare Pte. Ltd., and Alpha Healthcare International Pte. Ltd.

Singapore Medical Group said the said companies operate a total of six obstetrics and gynaecology clinics in Singapore.

The group said the acquisition will be funded by a combination of its internal resources and fund raising in the capital markets.

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