Q&M Dental has entered into a binding memorandum of understanding with Veritas Dental and its 90% legal and beneficial owner Dr Sebrina Abdul Malik to acquire Veritas’s dental clinic business for $800,000.
Veritas operates a dental clinic business at 781 Bukit Timah Road. Based on the unaudited accounts of Veritas for the financial year ended Dec 31, 2023, the net book value of the assets of the business was $203,486.
The purchase consideration takes into account the history, track record and future prospects of the business, as well as Dr Sebrina’s professional expertise, among others.
The proposed acquisition is in line with Q&M Dental’s plan to continue the expansion of its main dental business in Singapore. It is not expected to have any material effect on the net tangible assets per share and the earnings per share of the company for the current financial year ending Dec 31.
Shares in Q&M Dental closed 0.5 cents higher or 1.8% up on Sept 10 at 28 cents.
