| Here comes the next one. After a series of acquisitions of specialist practices, Singapore Medical Group (SMG) is making another one, this time in the aesthetics space. And this time, the CEO sounds particularly upbeat, since this is a high-margin business. And it is ready to expand in the region.  Dr Beng Teck Liang, CEO of Singapore Medical Group. Photo by Leong Chan Teik
"Our business mix will change dramatically from today with the SW1 acquisition," said SMG's CEO, Dr Beng Teck Liang, yesterday (1 Mar). |
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Stock price |
56 c |
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52-week range |
53c - 72c |
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Market cap |
S$256 m |
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PE (ttm) |
28x |
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Dividend yield |
-- |
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Year to date return |
-4% |
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Source: Bloomberg |
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SMG is accelerating plans to give Sw1 wings to enter Indonesia, Malaysia and Vietnam.
To help fund that, it has just called for a rights issue whereby 1 rights share will be issued for 20 existing shares at $0.48.
This will raise up to S$10.6 million in net proceeds.
Dr Low Chai Ling. Twitter photo.For now, SW1 Clinic operates in Paragon with five medical aesthetics practitioners and one plastic surgeon.
The clientele, who are said to pay four-figure sums for a session, is largely Singaporean. Indonesian ladies are next.
All six medical practitioners at SW1 were previously with The Sloane Clinic which was co-founded in 2003 by Dr Low Chai Ling and her husband, Dr Kenneth Lee.
Some years ago, The Sloane Clinic became majority owned by third parties.
Towards the end of 2017, Dr Low and Dr Lee left The Sloane Clinic and incorporated Pheniks, and were joined by the four former colleagues.
More information on FY17 results can be found here. ♦ More on the SW1 acquisition in the press release here. ♦ ... and SW1's offerings: https://www.sw1clinic.com/ |
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