Q&M in deal to buy dental hospitals in Liaoning province, China
A China subsidiary of Q&M Dental Group (Singapore) has signed a framework agreement with Dr Sun Zhizong to acquire a 60 per cent stake in a management company that will own and operate two dental hospitals in Donggang City and Dandong City in the Liaoning Province of China.
Under the deal, which is valued at 30 million yuan (S$6 million), Dr Sun will incorporate a management company and inject the dental businesses and assets of both hospitals into the management company.
Q&M will then acquire 60 per cent of the management company.
It will fund the acquisition through internal cash, existing loans from World Bank's International Finance Corporation and new Q&M shares, if need be.