Hyphens Pharma International has, on Nov 9, proposed to acquire the Novem group of companies for a total consideration of $16.28 million.

The group’s wholly-owned subsidiary, Hyphens Pharma Pte Ltd (HPPL) entered into a sale and purchase agreement (SPA) with Ng Kian Peng Albert and Lau Jui Fang for the acquisition of 100% of the issued and paid-up shares in Novem Healthcare, Novem Pharma and Novem Sciences.

Of the consideration amount, 85% – or $13.8 million – will be paid in cash and split equally between Ng and Lau.

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