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Q&M goes on a shopping spree

Gwyneth Yeo
Gwyneth Yeo9/6/2016 04:13 PM GMT+08  • 2 min read
Q&M goes on a shopping spree
SINGAPORE (Sept 6): Maybank Kim Eng has maintained its “buy” rating for Q&M Dental Group and its target price of $1.08 as the dental and medical clinic operator acquired three new dental clinics over the weekend.
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SINGAPORE (Sept 6): Maybank Kim Eng has maintained its “buy” rating for Q&M Dental Group and its target price of $1.08 as the dental and medical clinic operator acquired three new dental clinics over the weekend.

On Saturday, Q&M acquired Singapore-based Ho Dental Surgery from Ho Chuk Ping and includes a dental clinic in Marine Terrace, along with two dentists. Separately, the group also acquired Tooffy from Ang Hooi Kia, who will relocate to Q&M’s subsidiary, TP Dental outlet on Orchard Road. On Monday, the group acquired Jurong Point Dental Surgery from Chong Yoke Mun.

Maybank Kim Eng’s John Cheong observed that the acquisitions were priced between seven and eight times earnings, and will provide the group with between 5 and 8 years of guaranteed profit amounting to $400,000 per annum.

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