Eye specialist Optimax proceeds with proposed IPO
KUCHING: Private eye specialist service provider Optimax Holdings Bhd (Optimax) has obtained the approval from Bursa Malaysia Securities Bhd (Bursa Securities) to proceed with its proposed initial public offering (IPO) exercise on the ACE Market of Bursa Securities.
Optimax, through its group of subsidiaries, is principally involved in the provision of eye specialist services and offers a range of services with in-house expertise in medical ophthalmology at its specialist centres.
It provides treatments relating to eye and vision difficulties or impairment covering refractive error, cataract, glaucoma, macular degeneration, diabetic retinopathy and other eye diseases and disorders.
These eye specialist services which are performed by eye surgeons can be broadly categorised into four major groups, namely refractive surgery comprising laser vision correction and implant vision correction; treatment of eye diseases and disorders including cataract surgery and other eye medical treatment; consultation and dispensary services comprising doctor consultation and medication; and oculoplastic surgery.
Chief executive officer Sandy Tan shared, “By tapping into the capital market, it will not only enhance Optimax’s corporate profile and reputation, but also raise funds for capital expenditure.
“Given the industry we are in, we are optimistic about our growth prospects and moving forward, we remain committed to deliver sustained value creation for both our shareholders and stakeholders alike.
“It is envisaged that there will be an increased demand for eye specialist services. Advancing age may cause eye diseases and disorders, placing demand for eye specialist services such as cataract with current trends showing an increase in the population of Malaysians aged 50 and above.
“Additionally, the prevalence of lifestyle diseases with an upward trend of obesity and diabetes patients in our country could possibly lead to a higher demand for eye specialist services as eye diseases are linked to such lifestyle diseases.”
Established in 1995 via its subsidiary, Optimax Eye Specialist Centre Sdn Bhd, the Group started with its first specialist centre in Taman Tun Dr Ismail. Since then, the group had expanded to a chain of 13 eye specialist centres across Malaysia to include one specialist hospital, 11 ambulatory care centres and one specialist clinic.
The group had expanded its business to Penang, Perak, Seremban, Johor and even Kuching within its last 25 years of opertions. Tan added, “This milestone for the Company marks the beginning of a new phase of business expansion for Optimax as we proceed towards listing on Bursa Securities. It is a testament to the diligent efforts of the team here at Optimax that the Group has come thus far.
“We are grateful to Bursa Securities for their meticulous evaluation and subsequently, granting us approval to list. We are excited to embark on this journey and are mindful of the responsibilities that come with being a publicly-traded company.
“In view of the Covid-19 pandemic and the current economic situation, we will continue to review our business performance and financial position when deciding on our expansion plans.
“This includes the normalisation of our business operations after the easing and relaxation of the movement control order and ensuring adequacy of our working capital for our operations.”