SINGAPORE - Dental group Q&M Dental said on Monday it is looking to open more branches in Asia, especially in China and Malaysia, following the completion of its 60 per cent stake in Shenyang-based Aoxin Stomatology Group.
The Singapore-listed group said it will partner trade promotion agency IE Singapore for its regional expansion plans, which will include both acquisitions and joint ventures.
Q&M is planning to expand in second-tier cities in China's northeastern region as well as to acquire both suppliers and distributors, it added.
Last Friday, the group officially opened the Aoxin Q & M Children Dentistry Centre in Shenyang in China's Liaoning province. It has also announced the proposed acquisition of two other hospital groups in northeastern China: Donggang City Stomatological Hospital in Liaoning province and Weihai Meichen Hospital in Shandong province.
In Malaysia, the group is looking to grow its dental supplies distribution business and aims to have more than 15 dental clinics in Malaysia by next year.
IE Singapore's Global Company Partnership will help Q&M in its plans, the group said. The trade agency will help identify potential acquisition targets in regional markets and facilitate access to potential partners and senior government officials through its networks on the ground, including bilateral platforms such as the Singapore-Liaoning Economic and Trade Council.
"We are happy to partner IE Singapore in our regional expansion plans. We believe that with their support, Q & M will be able to fully realise its strategy of bolstering its presence in the region," said Dr Ng Chin Siau, Q&M's group chief executive officer.