Clearbridge Health to acquire 65% stake in medical centre in Manila

SINGAPORE (Jan 4): Clearbridge Health’s wholly-owned subsidiary, Clearbridge Health (Philippines), has entered into a conditional share purchase agreement to acquire 65% of the common shares in the issued share capital of Marzan Health Care Inc for 69.6 million Philippine pesos ($1.9 million).

The target company operates a medical centre offering a wide range of services including pathology services, imaging diagnostics, dental care, as well as dialysis and renal care in Manila, Philippines.

Following the completion of the proposed acquisition, Clearbridge says it also intends to enter into a subscription agreement to subscribe to cumulative, non-voting, redeemable preferred shares in Marzan at 1.00 peso per share, for a total subscription price of 25 million pesos.

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