QT Vascular subsidiary to acquire three Eastern Dental Surgery clinics

Dental tools. Photo by Ozkan Guner on UnsplashDental tools. Photo by Ozkan Guner on Unsplash

QT Vascular‘s indirect 60 percent-owned subsidiary Eastern Dental Centre has entered a deal to acquire three Eastern Dental Surgery clinics in Singapore for S$1.26 million, the company said in a filing to SGX Thursday.

The clinics have a presence in the western part of Singapore, where QT Vascular currently doesn’t have a dental clinic presence, the filing said. In early January, QT Vascular had completed the acquisition of 60 percent of Asia Dental Group from Dr. Gian Siong Lin Jimmy. 

“The proposed acquisition is part of the company’s efforts to leverage on the expertise and network of Dr. Gian in expanding the dental services business of the group,” QT Vascular said, noting Gian will manage and operate the Eastern Dental Surgery Group. 

The Eastern Dental Surgery Group, which has three clinics, was set up more than 30 years ago and currently has three resident dentists — Dr. Chiam Tok Joon, Dr. Chee Ai Guat and Dr. Peh Gek Yock @ Nur Aszlin Bte Abdullah — as well as six full-time and three part-time staff members, the filing said. The dentists will be retained for three years after the deal’s completion, QT Vascular said.

The dental group’s unaudited, combined pro forma financial statements for 2021 show a net profit of S$315,000 and a net book value and net tangible assets of around S$60,000, the filing said, noting no third-party valuation was commissioned.

The consideration is S$472,500 for the Eastern Dental Surgery (Jurong West Branch), S$451,500 for the Eastern Dental Surgery (Bukit Batok Branch), and S$332,500 for the Eastern Dental Surgery (Jurong East Branch), the filing said.

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