ANSHAN

Acumen Diagnostics granted Ministry of Health COVID-19 offsite PCR testing license, up to 100 sites island-wide

Retrieved on: 
Thursday, December 16, 2021
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More sites will be added in the next few months to the rest of the Q&M Dental network, with a potential capacity to activate 100 sites island-wide.

Key Points: 
  • More sites will be added in the next few months to the rest of the Q&M Dental network, with a potential capacity to activate 100 sites island-wide.
  • Those who require their PCR test results on urgent basis can also visit Acumen Diagnostics' headquarters at The Gemini, 41 Science Park Road, Singapore.
  • Acumen Diagnostics is a 51% subsidiary of SGX-listed Q&M Dental Group (Singapore) Limited (SGX: 1D4.SI) and 49%-owned by SGX-listed Aoxin Q&M Dental Group Limited (SGX: QC7.SI).
  • Acumen Diagnostics currently focuses on the manufacture, sale and distribution of COVID-19 diagnostic test kits, as well as COVID19 testing.

Aoxin Q & M acquires 49% stake in Acumen Diagnostics for S$29.4m

Retrieved on: 
Monday, October 4, 2021
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- Aoxin Q & M acquires a stake in Acumen Diagnostics, one of the leading homegrown medical diagnostics and technology companies in Singapore

Key Points: 
  • - Aoxin Q & M acquires a stake in Acumen Diagnostics, one of the leading homegrown medical diagnostics and technology companies in Singapore
    - With Q & M holding a majority 51% stake in Acumen Diagnostics, the acquisition, upon completion, raises Q & M's total effective ownership in Acumen Diagnostics to 67.15%, based on Q & M's 32.95% equity stake in Aoxin Q & M
    - Acquisition will be immediately profit accretive; presents opportunity to assist in providing an essential capability to Singapore in this next phase of tackling the COVID-19 pandemic, as the availability of good quality test kits and testing services will be an important cog in the national response to treating and living with COVID-19
    SINGAPORE, Oct 4, 2021 - (ACN Newswire) - Aoxin Q & M Dental Group Ltd (SGX: 1D4.SI) ("Aoxin Q & M") and Q & M Dental Group (Singapore) Limited (SGX: QC7.SI) ("Q & M"), announced today that Aoxin Q & M will acquire 49% of Acumen Diagnostics Pte.
  • Q & M's total effective ownership of Acumen Diagnostics will thus amount to 67.15%, based on its 32.95% equity stake in Aoxin Q & M. See diagram 1 below.
  • The Board of Directors of Aoxin Q & M believes that the proposed acquisition will enhance the long-term interests of Aoxin Q & M and its shareholders.
  • Q & M supports this transaction, and this transaction is likely to be beneficial to Q & M and its shareholders and financially strengthen Q & M and Aoxin Q & M in the mid and long term."