March 7, 2022

CATALIST-LISTED healthcare service provider Singapore O&G Group $ Singapore O&G : 1D8 0% has received a voluntary unconditional cash offer at S$0.295 a share from special purpose vehicle NewMedCo Group, according to a bourse filing on Monday (Mar 7).

Singapore O&G, which has 4 operating segments of obstetrics and gynaecology (O&G), paediatrics, cancer-related general surgery and dermatology, provides healthcare services in Singapore and Malaysia.

Meanwhile, the offeror NewMedCo is a consortium consisting of the offer’s sponsor and promoters.

The offer sponsor, Hanaan Health Group, is majority-held by a special purpose vehicle that is in turn wholly-owned by Dymon Asia Private Equity (SE Asia) II. According to the filing, its business is to invest in or acquire corporations in the healthcare sector.

Meanwhile, the promoters are Singapore O&G’s executive chairman Beh Suan Tiong, its executive director Heng Tung Lan and 3 specialist medical practitioners employed by the group: Lee Keen Whye, Joyce Lim Teng Ee and Choo Wan Ling. In total, they own around 71.4 per cent of the issued shares in Singapore O&G.

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