Catalist-listed Singapore Paincare Holdings has entered into a conditional sale and purchase agreement to acquire the business and assets of Medihealth Bishan Clinic & Surgery for a consideration of $585,000.

The agreement was signed between Singapore Paincare Holdings’ newly-incorporated 60%-owned subsidiary, Medihealth Clinic (MHC), and Healthgivers.

The consideration took into account the clinic’s historical net revenue and net profit generated by its operations, as well as its prospects and the aggregate book value of the assets acquired.

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