QT Vascular seeks to transfer listed status to Quantum Healthcare

A stethoscope and blood pressure cuff. Photo by Marcelo Leal on UnsplashA stethoscope and blood pressure cuff. Photo by Marcelo Leal on Unsplash

QT Vascular is proposing to restructure by transferring its listed status to Quantum Healthcare, according to a scheme document sent to shareholders and filed to SGX Wednesday.

Under the proposal, all of the shares of QT Vascular will be transferred to Quantum Healthcare, which will allot one Quantum Healthcare share for each share of QT Vascular, the filing said. The deal will make QT Vascular a wholly owned operating subsidiary of Quantum Healthcare, the filing said.

“Currently, the company’s core business segments comprise the existing medical device business and the healthcare business, and it is envisaged that the healthcare business would be a more significant contributor to the revenue of the group,” QT Vascular said.

“The purpose of the proposed restructuring and the transfer of listing status is mainly to ring-fence the potential liabilities of the company’s existing medical device business from the healthcare business and any other new businesses that may be acquired in the future,” QT Vascular said.

The meeting for shareholders to vote on the proposal is set for 24 June, the filing said.