<article>Singapore Medical Group is expected to pursue more acquisitions and plans to issue new shares to fund them, while the SGX is seeking more information on the new investors in ISR Capital.</article>

Singapore Medical Group is expected to pursue more acquisitions and plans to issue new shares to fund them, while the SGX is seeking more information on the new investors in ISR Capital.
<h3 style="text-align: justify;">SMG to pursue acquisitions, issue new shares</h3>
Singapore Medical Group is expected to pursue further acquisitions, following the S$60 million acquisition of the Astra Women&#8217;s Specialists group of obstetrics and gynaecology clinics announced on Tuesday.
In a <a style="color: #000080;" href="http://www.theedgemarkets.com.sg/sg/article/singapore-medical-group’s-acquisition-og-chain-sign-more-come" target="_blank">report</a> by The Edge Markets, which cites a research note by RHB, the management of Singapore Medical Group is expected to engage in further M&amp;A, with future acquisitions expected to see no more than a payout of 15 times earnings in future transactions..
SMG acquired the Astra Women’s Specialist’s six O&amp;G clinics and five doctors for S$60 million or 13 times FY15 earnings, in a consideration to be funded through cash paid in three tranches and the issue of 81.1 million new shares at 33 cents each. The acquisition also comes with a minimum profit guarantee of $4.6 million for five years. SMG is expected to raise the funds through the issue of up to 151 million new shares.
Singapore Medical Group&#8217;s earnings for FY17 earnings have also been doubled to $8.3 million on the back of the expected boost from the profit guarantees. The acquisition will also help it expand into new practice domains.
<h3 style="text-align: justify;">SGX seeks more info on new ISR Capital investors</h3>
<a style="color: #000080;" href="http://dealstreetasia.com/tag/isr-capital" target="_blank">ISR Capital</a> has received an approval-in-principle from <a style="color: #000080;" href="http://dealstreetasia.com/tag/isr-capital" target="_blank">Singapore Exchange (SGX)</a> for the listing and quotation of the new shares it plans to issue in a private placement worth S$12 million, involving more than 140 million shares at a value of 8.5 cents each. But the SGX requires more information regarding its four new investors.
Amongst them is the identity of the introducer of Ong Siew Choo to David Rigoll. Ong is one of the four investors involved in the latest placement by ISR Capital, while Rigoll is an executive director and largest shareholder of ISR, and its largest shareholder.
Other investors involved in the placements are Chinese national Chen Tong; Lee Thiam Seng, executive chairman of ecoWise Holdings; and <a style="color: #000080;" href="http://www.frontiersgroup.com.sg" target="_blank">Financial Frontiers</a>, a boutique Singapore private equity firm headed by Bill Ng Eng Tiong, a former UOB KayHian broker. One of its  portfolio, firms, <a style="color: #000080;" href="http://dealstreetasia.com/tag/mc-payment" target="_blank">MC Payment</a>, <a style="color: #000080;" href="http://www.dealstreetasia.com/stories/51638-51638/" target="_blank">recently concluded a round of funding</a>.
Also Read: 
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<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/49997-49997/">Singapore Medical Group fully acquires Lifescan in $6.3m deal</a>
<a style="color: #ff0000;" href="http://www.dealstreetasia.com/stories/sg-dealbook-singapore-medical-group-exiting-mindchamps-jv-halcyon-agri-in-strategic-deal-talks-12008/">SG Dealbook: Singapore Medical Group exiting MindChamps JV; Halcyon Agri in strategic deal talks</a>

Singapore Medical Group is likely to pursue more acquisitions, while the SGX wants more information of ISR Capital's latest investors. 

SG Dealbook: SMG eyes acquisitions; SGX seeks more info on ISR Capital investors

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SG Dealbook: SMG eyes acquisitions; SGX seeks more info on ISR Capital investors

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