Purchase consideration will be satisfied by a combination of cash and new ordinary shares
[SINGAPORE] Q&M Dental Group is proposing to acquire equity interest in a dental group in Thailand, the company said in a bourse filing on Wednesday (Oct 15).
The group operates one of Thailand’s largest privately owned dental clinic networks, with more than 30 clinics across the country.
These are located primarily in Bangkok and in major north-eastern provinces such as Udon Thani, Khon Kaen and Ubon Ratchathani.
Q&M said the target company’s network focuses on accessible, standardised, and patient-oriented dental care in high-traffic urban and suburban areas.
The purchase consideration will be satisfied by a combination of cash and new ordinary shares to be issued by Q&M, subject to a moratorium period.
The purchase consideration is based on the target’s enterprise value of 1.95 billion baht (S$77.7 million) on a cash-free and debt-free basis, subject to customary net working capital adjustments to be made at completion.
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Q&M said the acquisition supports its long-term strategic objectives by enabling a measured and strategic entry into Thailand’s private dental market through an established local operator.
Q&M said that by expanding beyond Singapore and Malaysia, it will “diversify its market exposure and reduce reliance on its existing core markets”.
Thailand’s private dental healthcare sector also presents significant growth potential, it added, driven by rising consumer awareness, increasing personal healthcare expenditure and growing demand for standardised dental treatments.
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Q&M has entered into a non-binding memorandum of understanding on Wednesday for the proposed acquisition.
The vendors have guaranteed to achieve certain levels of net income from 2026 to 2030, and further profit targets of at least 285 million baht for the financial years 2031, 2032 and 2033, the company noted.
Shares of Q&M closed 3.4 per cent higher at S$0.455 on Wednesday, before the announcement.
