UEM Ed­genta to ac­quire in­di­rect owner of UEMS for S$185.9 mil­lion

The Sun (Malaysia) - - SPEAK UP -

PE­TAL­ING JAYA: UEM Ed­genta Bhd and its wholly-owned sub­sidiary Ed­genta (Sin­ga­pore) Pte Ltd have pro­posed to ac­quire Asia In­te­grated Fa­cil­ity So­lu­tions Pte Ltd (AIFS), a fa­cil­i­ties man­age­ment ser­vices com­pany present in three coun­tries, for S$185.9 mil­lion (RM563 mil­lion).

UEM Ed­genta ex­pects to fi­nance the pro­posed ac­qui­si­tion with bank bor­row­ings.

In a fil­ing with Bursa Malaysia yes­ter­day, UEM Ed­genta said it and its wholly-owned sub­sidiary have en­tered into a sale and pur­chase agree­ment (SPA) with Asia IFM So­lu­tions Ltd (Asia IFM) for the pro­posed ac­qui­si­tion.

AIFS in­di­rectly owns UEMS Pte Ltd (UEMS), a provider of fa­cil­i­ties man­age­ment ser­vices to the health­care sec­tor serv­ing over 60 pub­lic and pri­vate hos­pi­tals and 26,000 beds in Malaysia, Sin­ga­pore and Taiwan.

In Malaysia, UEMS ser­vices pri­vate health­care and hospi­tal seg­ments such as Prince Court Med­i­cal Cen­tre, Pan­tai Hospi­tal Kuala Lumpur, Gle­nea­gles Pe­nang and As­sunta Hospi­tal.

In Taiwan, it man­ages hospi­tal fa­cil­i­ties for pub­lic and pri­vate hos­pi­tals such as Saint Paul’s Hospi­tal, Na­tional Taiwan Univer­sity Hospi­tal, Ping­tung Chris­tian Hospi­tal and Yuan’s Gen­eral Hospi­tal.

In Sin­ga­pore, it pro­vides house­keep­ing and pa­tient man­age­ment ser­vices where their clients in­clude Changi Gen­eral Hospi­tal, St Luke’s Hospi­tal, Tan Tock Seng Hospi­tal as well as Sengkang Health@Alexan­dra Hospi­tal.

“The pro­posed ac­qui­si­tion of UEMS not only al­lows UEM Ed­genta to have a lead­ing po­si­tion in Malaysia’s pri­vate health­care sec­tor but we are also able to im­me­di­ately es­tab­lish our re­gional health­care ser­vices pres­ence in Sin­ga­pore and Taiwan,” said UEM Ed­genta man­ag­ing di­rec­tor and CEO Azmir Mer­i­can.

He added that UEM Ed­genta has ex­pan­sive of­fer­ings that in­clude bio­med­i­cal en­gi­neer­ing ser­vices, health­care waste man­age­ment, en­ergy man­age­ment ser­vices, and linen and laundry ser­vices which they will be able to add into UEMS, re­sult­ing in a wider scope of com­ple­men­tary ser­vices be­ing of­fered to ex­ist­ing and new clien­tele in both pre­vail­ing and new ge­ogra­phies.

The pro­posed ac­qui­si­tion is ex­pected to be com­pleted in the fourth quar­ter of 2016, sub­ject to UEM Ed­genta share­hold­ers’ ap­proval be­ing ob­tained at an EGM to be con­vened.

CIMB In­vest­ment Bank Bhd has been ap­pointed prin­ci­pal ad­viser to UEM Ed­genta for the pro­posed ac­qui­si­tion.

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