CATALIST-LISTED Accrelist : QZG 0% will acquire a 51 per cent stake in four medical aesthetic clinics for S$550,000, the group said late on Tuesday (Apr 18).

Accrelist, which has businesses in skincare products, medical aesthetics and electronics solutions, will acquire 102,000 shares in SJY Medical, which operates the four clinics at Novena Medical Centre, NEX Serangoon, Jurong Point, and SingPost Centre.

The book value of the sale shares is valued at S$358,507 for the Aug 1, 2022, to Mar 31, 2023, period.

Assuming the deal was completed on Mar 31, 2023, Accrelist estimates its loss per share to narrow to S$0.0413 from S$0.0419, based on pro forma estimates. (*see amendment note)

Meanwhile, its net tangible assets per share will rise to S$0.1013 from S$0.0984.

When the deal is completed, SJY Medical will become an Accrelist subsidiary. Its four clinics will also be rebranded under Accrelist Medical Aesthetics (AM Aesthetics) while retaining existing doctors.

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Accrelist executive chairman and managing director Terence Tea said: “We remain confident in AM Aesthetics’ long-term prospects amidst an ageing population with rising affluence and growing acceptance of minimally invasive procedures.”

He also said that AM Aesthetics will continue to seek growth opportunities across the region.

AM Aesthetics operates a chain of medical aesthetics clinics – nine in Singapore and one in Malaysia.

It will open two more aesthetics clinics in Northpoint City and VivoCity later in the year, Accrelist said.

It also noted plans to open AM Aesthetics clinics in Bangkok and Kuala Lumpur.

Accrelist also holds a 53.31 per cent controlling stake in Catalist-listed Jubilee Industries : NHD 0%. Jubilee said on Mar 23 that it would sell its remaining 86 per cent stake in its electronics business unit for US$15.9 million in cash.

*Amendment note: A previous version of this story incorrectly reported the pro-forma loss per share as S$0.413 instead of S$0.0413. The article has been amended to reflect this change.