Singapore Medical Group's controlling shareholders may put up stake for sale

The board of Singapore Medical Group said that its controlling shareholders, Dr Xiaoyan Baumann and Mr Felix Huang, have informed the company that they have received an expression of interest from an unrelated third party to acquire all or part of their shareholding.

No agreement has been reached, and there is no certainty as to whether the said transaction will take place, the company said in a statement today.

In May, Q&M Dental Group pulled out of a proposed acquisition of the Catalist-listed company after it was notified that the vendors were in breach of representations and warranties as there had been a material change in the financial performance of Singapore Medical Group from the balance sheet date of June 30, 2012 to Dec 31, 2012.