SINGAPORE (June 7): Q&M Dental Group is seeking to buy a 47.14% equity interest in Shenzhen New Perfect Dental Research (SZNP) for RMB66 million ($13.75 million).
SZNP is a China-based dental prosthetic devices provider, focusing on custom-making prostheses for individual dental patients.
It currently operates 16 dental laboratories in 15 Chinese cities, including Shenzhen, Guangzhou, Dongguan, Wenzhou, Hangzhou and Ningbo.
Q&M entered into a binding memorandum of understanding on Tuesday with Shenzhen New Perfect Industry, Peng Hui Chang, Peng Jian Chang and Guo Yu Chun for the proposed acquisition.
Q&M says the proposed acquisition will give Q&M an “effective interest of 33% in the dental laboratory business that are carried out by 15 subsidiaries of SZNP”.
This will provide synergy to its main dental services business and is in line with its expansion into dental-related industries in China.
Shares of Q&M ended higher at 76 cents on June 6.