Singapore Medical Group sells eye care equipment for $800,000

Singapore Medical Group has disposed of some ophthalmology equipment to Mr Felix Huang Keming and Dr Xiaoyan Baumann Geb Bi for $800,000.

This is in line with the group's internal restructuring exercise to streamline the operations of the eye cluster business.

The sale items comprise various ophthalmology equipment required to perform eye check or eye surgery.

There are seven pieces of equipment in total, including a lasik surgical laser machine and a surgical microscope.

These were used at the then newly opened Centre for Eye Surgery and The Lasik Surgery Clinic at Wheelock Place for some two years until the close of the clinics in July 2013.

The equipment is currently not used by the group and the group's eye cluster clinics have sufficient equipment for its operations.

Further, the Group has not received any acceptable offer for each of the sale equipment since the close of the clinics.

The sale will result in a net gain of $50,000 over the net book value as at Dec

31, 2013,

The buyers paid up in full for the equipment on Jan 10 and the proceeds will be used for the general working capital purposes of Singapore Medical Group.