Date Published: 13 February 2017
The Team Advising On The Transaction: Ken Chia and Joshua Khng.
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.
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