Q & M Dental to acquire remaining 51% stake in EM2AI for $1.76m

It is expected to be completed by mid-2025.

Q & M Dental Group (Singapore) Limited has announced that it has entered into a share purchase agreement (SPA) with EM2AI Professional HoldCo Pte. Ltd. to acquire the remaining 51% of EM2AI Pte. Ltd. for $1.76m.

The acquisition, expected to be completed by mid-2025, will make EM2AI a wholly owned subsidiary of Q & M. EM2AI was previously a wholly owned subsidiary of Q & M before a partial investment by the Vendor and a loan conversion by the company in March 2024, which resulted in EM2AI becoming a 49% owned associate of Q & M.

As the Vendor is controlled by Q & M’s Executive Director and CEO, Dr. Ng Chin Siau, the transaction qualifies as an interested person transaction under the Singapore Exchange Securities Trading Limited (SGX-ST) Listing Manual. However, the acquisition is not considered an interested person transaction in relation to Dr. Ng’s alternate Director, Dr. Ang Ee Peng Raymond, who holds a minority interest (less than 30%) in the Vendor.

The acquisition is seen as a strategic move for Q & M to enhance its digital capabilities. EM2AI’s AI-driven dental software will help accelerate Q & M’s transition to a fully digital dental ecosystem.

Since the previous transaction, EM2AI has shifted from research and development to marketing its key solutions, resulting in positive cash flow and improved business prospects.

The company’s expansion into new markets, including Thailand, Indonesia, Australia, and the Philippines, opens up further opportunities for growth.

By acquiring full ownership, Q & M will consolidate 100% of EM2AI’s revenue and profitability, improving overall financial performance. Full control will also allow Q & M to maximise synergies, streamline operations, and enhance its AI capabilities, solidifying its leadership in the Southeast Asian dental market.

The acquisition will also retain the existing EM2AI team, ensuring continued innovation and product development.

The total consideration for the purchase of 1,606,500 shares in EM2AI is $1,760,000, which will be paid in cash upon completion. The amount was determined after negotiations based on EM2AI’s net asset value and future business prospects.

Completion is subject to shareholder approval and the fulfillment of regulatory and third-party consents.

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