Southern Capital-backed Qualitas Medical seeks to make a comeback on SGX

Seven years after being taken private, regional healthcare group Qualitas Medical is planning a return to the Singapore Exchange (SGX), according to a preliminary prospectus it filed with the Monetary Authority of Singapore.

Qualitas, backed by Singapore-based private equity firm Southern Capital Group, spent three years on the SGX Catalist board but was taken private in 2011.

Based on its preliminary prospectus, Qualitas said the offering will consist of an international placement including institutional and other investors in Singapore. There will also be a public offer in Singapore.

Qualitas said some of the shares in the international offering have been reserved for directors, management, employees, and business associates of the group.

The offering price per share has not been decided yet.

Qualitas intends to use the net proceeds from the offering primarily for strategic investments and acquisitions, organic growth initiatives, and general corporate purposes.

The regional primary healthcare service provider, headquartered in Malaysia with a presence in Australia, Singapore, and India, began its business in 1997. It currently operates 279 facilities across these markets.

Its facilities include 136 primary care centres, 25 dental clinics, one dental hospital, one dental laboratory, and 12 medical imaging centres.

As part of its business strategies and future plans, Qualitas said it will make capital and other investments in its facilities and technology and recruit and retain doctors to expand the services offered in its primary healthcare business.

“We will continue to tailor our approach and adjust our strategies as necessary in response to changes in the economic and regulatory climates in which we operate and the results achieved by our various efforts,” the group said in its prospectus.

The primary healthcare market in the Asia Pacific region remains highly fragmented with services predominantly provided by independent practitioners and small groups of practitioners, Qualitas said.

“We believe that there is significant potential for consolidation of small primary healthcare practices that have synergies with our existing business and would be value-creation opportunities for our shareholders,” it added.

Also Read:

Malaysia’s Qualitas Healthcare defers IPO plan as it waits for better market conditions

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.