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PR Newswire
24-05-2018, 07:08 PM
(24-05-2018, 07:05 PM)sykn Wrote:(24-05-2018, 06:04 PM)cyclone Wrote: Proposed Acquisition of Asia-Focused Healthcare Business
Boustead Singapore Limited announced that it has on 24 May 2018 entered into a sale and purchase agreement with WhiteRock Medical Company Pte Ltd ("WhiteRock Medco") to acquire 100% of the shareholding of WhiteRock Incorporation Pte Ltd ("WRI"), comprising a group of 16 healthcare corporations operating in Singapore, China, Hong Kong, Malaysia and Thailand.
Boustead has agreed to an acquisition price of S$19,016,000, which is approximately equivalent to the adjusted unaudited net asset value of WRI as presented by WhiteRock MedCo at the end of its financial year ended 31 December 2017. The Acquisition Price represents the equivalent of the adjusted unaudited net asset value, 1.3x the unaudited net tangible asset value or a price-to-earnings ratio of 15.1x WRI’s proforma unaudited profit after tax for the financial year ended 31 December 2017.
About WhiteRock Incorporation Pte Ltd
WRI’s primary focus is in addressing the needs of healthcare institutions caused by rising aging populations, which require a significant increase in long-term healthcare infrastructure and skilled healthcare manpower. This in turn drives demand for WRI’s equipment and services in the long-term care market, especially in community hospitals, nursing homes and outpatient centres. WRI’s focus on innovative technologies and patient care services help it to address the pain points of these healthcare institutions by promoting faster recovery and higher productivity, both aimed at addressing the resource shortages faced by the healthcare industry.
More details in http://infopub.sgx.com/FileOpen/Boustead...eID=507213
WFF is moving! Interesting that the acquirer is not BPL but BSL. I think this may give some fillip to the future value of BSL biz.
why BP?
WRI is an equipment and services provider for rehabilitative care, sleep care and sports science.
And BP doesn't have the issue of idled warchest.
Interesting acquisition but just too small considering the small stake in Tongzhou already more than that.
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My views are your Gilbert & Sullivan's:
"The flowers that bloom in the spring, have nothing to do with the case".
"The flowers that bloom in the spring, have nothing to do with the case".