Aoxin Q&M acquires 49% stake in Q&M's Acumen for $29.4 mil

Atiqah Mokhtar
Atiqah Mokhtar10/4/2021 7:53 AM GMT+08  • 2 min read
Aoxin Q&M acquires 49% stake in Q&M's Acumen for $29.4 mil
Q&M, which owns a 32.95% stake in Aoxin Q&M, will have effective ownership of 67.15% in Acumen post-transaction.
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Catalist-listed Aoxin Q&M Dental Group will acquire 49% interest in medical diagnostics company Acumen Diagnostics for $29.4 mil, according to a joint announcement by the company and Mainboard-listed Q&M Dental Group.

Acumen is a subsidiary of Q&M, which holds a 51% stake in the company.

Aoxin is acquiring the stake in Acumen from its shareholders Acumen Holdings and Dr Ong Siew Hwa, Acumen's CEO and chief scientist. Upon completion of the transaction, Aoxin will hold 49% of Acumen Diagnostics, while Q&M will retain the remaining 51%.

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