SINGAPORE (Aug 23): Clearbridge Health’s wholly-owned subsidiary, SAM Laboratory, is acquiring a controlling stake in PT Indo Genesis Medika, a company incorporated in Indonesia, for an aggregate consideration of about IDR 40.7 billion ($3.8 million).

Under the memorandum of understanding (MoU) inked between SAM Lab, Indo Genesis and PT Kreasi Putra Nusantara (KPN), SAM Lab will subscribe for up to 49% of Indo Genesis for IDR 26.6 billion, with KPN holding the remaining 51% in the company.

Subsequently, SAM Lab will subscribe to bonds issued by KPN, which will be exchangeable at the former’s option into a further 26% of Indo Genesis for IDR 14.1 billion.

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