SINGAPORE: Health Management International Limited has announced that its wholly-owned subsidiary, HMI Healthcare Services Pte. Ltd. has completed the acquisition of Plus Medical Holdings Pte. Ltd.
HMI Healthcare holds 28 percent of the issued share capital of the Plus Medical Holdings and the Plus Medical Holdings has become an associated company of HMI Healthcare, a notice issued to Singapore Exchange (SGX) noted.
Subject to further requests for funding from the Plus Medical Holdings and the satisfaction of certain conditions, HMI Healthcare shall, during the period commencing on closing and ending on December 31, 2022, subscribe for additional ordinary shares in up to four tranches of S$3.0 million each, which will take HMI Healthcare’s stake in the Plus Medical Holdings to a maximum of 60 percent.