Q&M Dental Group has entered into a non-binding memorandum of understanding with certain shareholders of Guangdong Delun Medical Group (Delun) for the group’s proposed acquisition and investment in Delun.
Delun, which focuses on the business of providing oral medical chain services, currently comprises one dental hospital, 28 directly-managed chain outpatient clinics, with an operating area of more than 35,000 sqm.
Under the proposed investment, the group is expected to acquire 25% of the total issued share capital of Delun.
The group says that the proposed investment is an “opportunity to expand its dental business” in Southern China.
Further announcements are expected to follow subject to material developments.
Shares in Q&M Dental Group QC7 closed 1.5 cents higher, or up 5.0%, at 31.5 cents on Oct 23.
