Q&M Dental completes Thailand acquisition with 51% stake in Bangkok clinic chain Deezy
The Singapore-listed group pays US$29.3 million for the operator of 33 clinics
Q&M Dental Group (Singapore) has completed its acquisition of a 51% stake in Bangkok’s Deezy dental chain for US$29.3 million. The deal, which includes 700 million baht in cash and 294.5 million baht in new Q&M shares, gives the Singapore-listed group ownership of Deezy Dental Home, a network of 33 clinics in Bangkok and north-eastern Thailand.
The founders of Deezy, dentists Nanthisak Piyanantisak and Thunyaporn Pongkajornkitjakarn, have guaranteed a profit of about 1.25 billion baht over six years, with any shortfall to be offset by the vendor waiving its dividend entitlements and Nanthisak and Thunyaporn drawing from an escrow account and selling consideration shares.
The acquisition provides Q&M with an immediate foothold in Thailand’s private dental market and allows for future organic growth and expansion through acquisitions.
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