Harry Elias Partnership LLP Represents Singapore Medical Group In Acquisition Of Astra Women’s Specialist Group Of Clinics

The Firm is currently representing Singapore Medical Group Limited in its acquisition of Astra Women’s Specialist group of clinics for a consideration of $60 million at a price earnings multiple of thirteen times.

The Astra Women’s Specialist group of clinics comprises of six obstetrics and gynaecology (“O&G”) clinics along with five reputable doctors who will bring a wealth of experience to SMG. Along with a flagship clinic located at Mount Elizabeth Novena Specialist Centre and other branches located conveniently in prominent heartland locations, the acquisition will add additional scale to SMG’s burgeoning O&G segment.

Upon completion of the acquisition, SMG will have eight O&G doctors making it one of the largest specialist practitioners in the private sector dedicated towards women’s health and wellness. The five doctors coming on board will serve six year service agreements as the Group expands its offering into areas such as general O&G, fetal-maternal medicine, urogynaecology and in-vitro fertilisation.  The consideration is to be satisfied by way of a payment of S$33.0 million in cash and the issue of 81,110,310 new shares at S$0.33288 per share.

Singapore Medical Group is a private specialist healthcare provider with a network of 30 specialities and is a  company listed on the Catalist Board.
 
HEP Partner Claudia Teo, led the team for the above transaction.