HEALTH Management International (HMI) is buying a 62.5 per cent stake in StarMed Specialist Centre in Farrer Square for S$6.9 million.
This is being done through the acquisition of StarMed, a company set up by six specialist medical doctors which owns the one-stop day-surgery and multi-disciplinary medical centre.
In addition, the group will inject a S$1.9 million shareholders loan while assuming obligations of up to S$31.2 million worth of loans, which is in proportion to its shareholdings.
Its share price fell half a cent to S$0.665 on Monday, having reached a peak of S$0.715 in mid-November last year; that was when Temasek-backed Heliconia Capital agreed to pump S$11 million into it via a share placement.