Singapore Medical Group fully acquires Lifescan Imaging for $8.5 mil

SINGAPORE (Aug 8): Singapore Medical Group (SMG) has proposed to fully acquire its 38.1% owned associated company, Lifescan Imaging, an imaging and radiology firm, for a consideration sum of $8.5 million.

In a Monday statement, the healthcare services provider says the remaining 61.9% stake would have contributed an additional net profit of $348,000 for 1H16.

The earnings-accretive acquisition will be funded via the issuance of 33.36 million new SMG shares at about 25.6 cents each, and carries a price-to-earnings (P/E) ratio of 12.3.

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