Singapore-listed Clearbridge Health Limited has completed the acquisition of nine dental clinics in Singapore that operate under the brand Dental Focus, according to a press statement.
Clearbridge focuses on the delivery of precision medicine in Asia. This acquisition is expected to strengthen Clearbridge’s medicine platform in Asia.
The acquisition plan was first announced in Singapore Stock Exchange (SGX) on 24 May 2019. Clearbridge had proposed the bid price of S$3.3 million.
In the company’s announcement in May, Dental Focus’ clinics were expected to have around $1.9 million of aggregate book value and net tangible assets as well as around $0.8 million of net profit. These valuations were based on the unaudited management accounts of those nine clinics.
This acquisition is also expected to bring a positive impact on Clearbridge’s financial performance by end of 2019, said executive director and CEO Jeremy Yee. Furthermore, the dental clinics may also help Clearbridge targeting more patients and accelerate the adoption of precision medicine.