SINGAPORE - Q&M Dental Group said on Monday it has formed a strategic partnership with Singapore-headquartered conglomerate IMC Group.
It has granted Heritas Helios Investments, a healthcare private equity fund seeded by IMC and managed by IMC unit Heritas Capital Management, a call option to buy up to 63 million new Q&M shares within two years at a minimum of 48 cents per share.
Some of Q&M's major shareholders have also agreed to sell a combined 10 per cent stake in Q&M to Heritas Helios Investments, the group said.
These shareholders are Quan Min Holdings, which is Q&M's controlling shareholder, as well as Dr Kelvin Koh Shunjie and Dr Felicia Koh Shuhui.
"We are excited to work together with IMC given their esteemed and renowned reputation," said Q&M group chief executive Dr Ng Chin Siau.
"This strategic partnership enables us to leverage on IMC's strong presence, experience and resources in the region to achieve further growth in Singapore, Malaysia and China, as well as other new markets," he added.
IMC is a diversified group with operations in industrial supply chains, offshore oil & gas services, financial services, lifestyle-real estate and social entrepreneurship.
"We are delighted to embark on a long-term strategic partnership with Q&M," said Mr Chavalit Tsao, chairman of the IMC Group.
"We have been impressed with the strong leadership team and the dental platform that they have built."