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News - Detailed News Story

JCG to buy 51% stake in Malaysian medical aesthetics group

23 May 2019 09:00

By Lee Meixian

JCG Investment on Tuesday announced its proposed acquisition of a 51 per cent stake in Malaysia-based medical aesthetics group, Beverly Wilshire Medical Centre, for up to RM15.3 million (S$5.1 million), subject to a minimum consideration of RM13.8 million.

Beverly Wilshire Medical Centre is constituted by a group of Malaysia-incorporated companies specialising in medical aesthetic treatments, healthy ageing wellness and regenerative therapies, cosmetic surgery, dental aesthetics and hair restoration.

It started in 2012 doing simpler procedures such as botex and fillers. Today, it operates two licensed medical centres and two licensed aesthetics clinics in Kuala Lumpur, Johor Baru and Petaling Jaya. The group currently has 18 doctors, of which eight are resident doctors and 10 are visiting doctors.

Ang Kok Huan, interim executive chairman and CEO of JCG, said the acquisition is part of JCG's overall strategic plan to build its health business. The company is looking at building a second business pillar in the area of wealth; Mr Ang will give more clarity on its strategy in the second half of the year.

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Source: Business Times

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