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Singapore Medical Group acquires 85% of SW1 Clinic for $6.5 mil

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Singapore Medical Group acquires 85% of SW1 Clinic for $6.5 mil

Samantha Chiew Published on Thu, Mar 01, 2018 / 6:42 PM GMT+8

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SINGAPORE (Mar 1): Singapore Medical Group (SMG) is acquiring an 85% stake in Pheniks for $6.5 million from two parties – Kenneth Lee Cheng San and Low Chai Ling.

Pheniks operates aesthetic and plastic surgery clinic, SW1 Clinic, located in Paragon medical Centre, Orchard Road. Both Lee and Low are aesthetic medical practitioners for SW1 Clinic.

The group will fund the acquisition via a combination of internal resources, bank facilities and fund raising in the capital markets.