LYC Healthcare to purchase three dental clinics for RM3.18mil



KUALA LUMPUR: LYC Healthcare Bhd has proposed to amass three dental clinics in Klang Valley for a complete of RM3.18mil.

LYC mentioned its wholly-owned subsidiary LYC Dental Group Sdn Bhd had entered right into a conditional share buy settlement with Dr Beh Wee Ren to amass 100% shareholding in KL Dental (Kiara) Sdn Bhd which owns all the fairness possession and operates the KL Dental outlet in Kiara 163.

It had additionally entered right into a conditional share buy settlement with Dr Beh to amass 100% shareholding in KL Dental Sdn Bhd which owns all the fairness possession and operates the KL Dental outlet in SS15 Courtyard.

LYC additionally entered right into a conditional share buy settlement with Dr Beh and Dr Andy Ooi But Lee to amass 100% shareholding in KL Dental (Connaught) Sdn Bhd which owns all the fairness possession and operates the KL Dental outlet in Taman Connaught.

The healthcare group mentioned the whole buy consideration could be happy in a mix of money and shares in LYC Dental.

It added that the proposed acquisition whole buy consideration of RM3.18mil represented a price-to-earning (P/E) a number of of 5.8 instances, over the combination revenue after tax of RM546,680 of the three dental shops for the 12-month monetary interval ended Dec 31, 2021.

“The group believes the dental shops to be strategically positioned, primarily concentrated in mature neighbourhoods, serving residents dwelling throughout the surrounding areas. The three shops presently have six training dental medical doctors, which can proceed to stay working put up completion of the

proposed acquisitions,” LYC mentioned in a submitting with Bursa Malaysia.

“Upon completion of the proposed acquisitions, the shareholding of LYC Dental shall be 70% by LYC Healthcare and 30% to be held by Dr Beh, which can align the pursuits of the group and Dr Beh in rising the enterprise collectively,” it mentioned .

The group plans to improve and/ or improve the present three shops upon the completion of their proposed acquisitions and discover the opportunity of opening further dental clinics and/ or dental medical facilities topic to market circumstances and availability of the correct areas.

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