Q&M Dental to buy Aussie, Thai networks in $145m deals

The deals worth over $145m will add 73 clinics across two overseas healthcare markets.

Q&M Dental Group has entered into agreements to acquire an Australian dental network and a controlling stake in a Thai dental operator in transactions worth more than $145m, expanding its regional footprint by 73 clinics across both markets.

The company said it will acquire 100% of Australia's Experteeth Group for approximately $107.23m (AUD119.64m), whilst separately acquiring an effective 51% interest in Deezy Q&M Dental Group (Thailand) for $38.41m (THB994.5m).

The Australian transaction will add 40 clinics across New South Wales, Victoria, Queensland, Tasmania, and the Australian Capital Territory, supported by approximately 120 dentists.

Under the sale and purchase agreement, the consideration comprises $57.93m (AUD64.64m) in cash and $49.29m (AUD55m) in new Q & M shares issued at $0.70 per share.

Q&M said the deal includes an eight-year profit guarantee of approximately $100.92m (AUD112.6m), backed by escrow arrangements, whilst the founders and key dentists will remain with the business under 15-year service agreements and a corresponding 15-year moratorium on the consideration shares.

Separately, Q&M's Thailand acquisition will give it an effective 51% stake in Deezy, which will own and operate 33 dental clinics across Bangkok and northeastern Thailand.

The $38.41m (THB994.5m) purchase price will be funded through $27.03m (THB700m) in cash and $11.37m (THB294.5m) in new Q & M shares, also issued at $0.70 per share.

The transaction is supported by a six-year profit guarantee of approximately $48.28m (THB1.25b), with escrow arrangements, share pledges, and dividend waivers to cover any profit shortfall, the company said.

Q&M said the Australian acquisition provides an established operating platform in one of the region's regulated healthcare markets, whilst the Thailand transaction gives it an immediate presence in Thailand's private dental sector.

CEO Ng Chin Siau said the Experteeth acquisition marks a milestone in Q&M's internationalisation strategy and provides a platform for further growth in Australia.

Commenting on the Thailand deal, Ng said Deezy's clinic network, professional team, and market position made it the right partner for the company's expansion into the country.

Q&M said the two acquisitions extend its dental network beyond its existing operations in Singapore, China, and Malaysia and form part of its strategy to expand across the Asia-Pacific region.

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