Date Published: 13 February 2017
CNPLaw LLP (“CNP”), formerly known as Colin Ng & Partners LLP, successfully acted for 5 obstetrics and gynaecology (“O&G“) specialist doctors in the sale of their Astra Women’s Specialists group of clinics to SGX-listed Singapore Medical Group Limited (“SMG“), a specialist healthcare services provider with 23 existing clinics in Singapore, for a total consideration of S$60 million. The consideration will be paid via S$33 million in cash and the issuance of new shares in SMG worth an aggregate of S$27 million at an issue price of S$0.33288 per share.
The Astra Women’s Specialists group of clinics comprises of six O&G clinics with a flagship clinic located at Mount Elizabeth Novena Specialist Centre. Due to this acquisition, SMG now provides O&G services through eight O&G doctors, making it one of the largest specialist practitioners and service providers in the private sector dedicated towards women’s health and wellness.
Each M&A deal entails the confluence of multiple legal disciplines. That is why we take great care when assembling a team for each deal, ensuring that there is an optimal mix of specialisation in the clients’ identified areas of concern, such as tax, employment and intellectual property, and necessary industry-specific experience.
We provide support to our clients at every stage of the deal. We will be there at the beginning of the process, helping to facilitate the negotiations between the parties and advising on the structure of the transaction. Once the parties have reached a consensus, we meticulously prepare the necessary documentation. Recognising that M&A deals are often the first page of a new chapter for the parties involved, we also provide post-transaction support to ensure a smooth transition such as the preparation of shareholder agreements, employment agreements, and other relevant commercial documentation.