New Silkroutes Group acquiring 70% stake in 3 dental clinics for S$3.2 mil

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SINGAPORE (Oct 11): New Silkroutes Group is acquiring a 70% stake in three clinics from The Dental Hub for S$3.2 million to expand its healthcare portfolio.

The three clinics are located at Bedok North Street 4, PSA Building at Alexandra Road, and Yew Tee Point at Choa Chu Kang. Collectively, they generated about S$2.7 million in revenue and S$0.5 million in earnings in their last financial year.

New Silkroutes will issue 7.2 million new shares at 44 Singapore cents each as consideration for the clinics, which are equally owned by two dental practitioners, Dr Ainsley Toh and Dr Foong Siew Hong... (Click here to read the full story.)