LYC HEALTHCARE BERHAD
KLSE (MYR): LYC (0075)
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0.215
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0.205 - 0.22
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496,600
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KUALA LUMPUR (March 23): LYC Healthcare Bhd said it is venturing into the dental industry through the acquisitions of three dental clinics in the Klang Valley for a total of RM3.18 million.
In a statement filed with Bursa Malaysia on Wednesday, the healthcare service provider said its wholly-owned subsidiary, LYC Dental Group Sdn Bhd, has signed agreements with Dr Beh Wee Ren to acquire the KL Dental outlets in Kiara 163 and SS15 Courtyard.
LYC Dental signed another agreement with Dr Beh and Dr Andy Ooi Yet Lee to acquire the KL Dental outlet in Taman Connaught, the group said.
The acquisitions will be paid for via a mixture of cash and shares in LYC Dental, resulting in 70% of the dental firm being owned by LYC Healthcare and 30% by Dr Beh.
"The group believes the dental outlets to be strategically located, mainly concentrated in mature neighbourhoods, serving residents living within the surrounding areas.
"The three outlets currently have six practising dental doctors, which will continue to remain working post completion of the proposed acquisitions," said LYC Healthcare.
The group said it plans to upgrade the three outlets upon the completion of the acquisitions to improve their customer service offerings. It will also explore the possibility of opening additional dental clinics and dental medical centres subject to market conditions and availability of the right locations.
LYC Healthcare noted that Dr Beh has 12 years of experience in practising as a dental surgeon with special interest in dental implants, invisalign and medical aesthetics. Besides that, he is the president of Malaysian Oral Implantology Association and treasurer of the Malaysian Association of Aesthetic Dentistry.
Dr Beh is also a dental entrepreneur who previously co-founded and expanded iCare Dental group to be one of the fastest growing groups with up to 28 branches in Malaysia, the group said.
"As a result, LYC Healthcare has identified Dr Beh as a suitable partner to venture into the dental industry and build an integrated dental platform together with in the coming years," the group said.
Looking ahead, LYC Healthcare said the group foresees the growth in the dental industry to mainly be driven by a growing and ageing population that increases demand for dental services.
Other factors driving growth within the industry, it said, will come from the higher demand for cosmetic dentistry due to rising disposable income among consumers, as well as the expansion in the dental tourism industry in tandem with the growing healthcare travel industry.
LYC Healthcare shares closed unchanged at 24.5 sen, bringing a market capitalisation of RM113.81 million.
2022-03-24 11:44
non stop private placement......
latest announcement mention "up to 30% of the total number of issued shares"
2022-06-08 13:28
30% new shares will be issued via private placement at up to 20% discount plus additional free shares at no cost will also be issued and given to the management !
2022-06-29 11:27
Go 60sen lah if like this.
Dual listing in singapore like topglove huat ahh huat ah
2023-01-31 21:41
hahaha..mm confined all those who chased into their confinement centre liao..waiting to be operated
2023-02-03 16:23
big volume up next day same volume down, same pattern for yesterday, should be game over
2023-02-10 09:22
Listing of LYC subsidiary on Singapore Stock Exchange approved by the EGM yesterday and the lPO will be any time soon.
2 months ago
Triangle correction should be completed for wave 2. Expect rebound and near term target of 32/34sen. Wave 3 target around 47-50sen.
Spore dual
Listing is soon and the datacentre project is in the process. Hopefully more good news for wave 3 uptrend move
2 months ago
Already very less people are interested to buy, still keep washing until nobody are interested, then self play self song
2 months ago
Kenanga investment bought 7pct shares of lyc for their shariah portfolio fund. Time to rocket
2 months ago
Buy call lyc 27-27.5
Tp 31-33 cents
Stop loss if breach support after 4pm 25 cents
7/4/23 8.00pm
1 month ago
Nice one michael. My short term tp 33-34, if break that and continue moving up, expects to see 47-50sen for mid term swing
1 month ago
Selamat hari raya! Tomorrow lyc will give duit raya. Hopefully will be back to 32-34 soon
1 month ago
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KUALA LUMPUR (March 16): LYC Healthcare Bhd's Singapore unit LYC Medicare (Singapore) Pte Ltd (LYC SG) is buying the remaining 49% stakes it does not hold in two Singapore-based healthcare companies via cash and share deals, ahead of the unit's proposed listing on the Singapore Exchange (SGX).
The two companies are T&T Medical Group Pte Ltd (T&T) and HC Orthopaedic Surgery Pte Ltd (HCOS).
It is buying the stake in T&T from Dr Ting Choon Meng for S$8.1 million (RM24.95 million) and the stake in HCOS from Dr Chan Ying Ho (Dr Henry) for S$9.163 million (RM28.22 million). The conditional share agreements for the transactions were inked on Wednesday (March 16).
T&T operates a one-stop chronic disease centre focusing on chronic degenerative joint diseases and spine, pain management, and metabolic diseases like Diabetes Mellitus, hypertension and high cholesterol. HCOS primarily serves patients requiring various orthopaedic specialist treatments, including surgeries.
On completion of the transactions, Dr Ting and Dr Henry will become shareholders of LYC SG, with respective 5.38% and 8.62% stake.
LYC SG is considering listing its healthcare business on the Catalist Board of the SGX, and ZICO Capital Pte Ltd has been appointed as its full sponsor for the proposed listing.
Earlier this month, Kenanga Investment Bank Bhd (KIB), via its wholly-owned unit Kenanga Investors Bhd, took up a 25% stake in LYC SG for S$12.9 million (RM39.9 million), cash. LYC Healthcare said Kenanga Investors has, at its invitation, agreed to participate and commit as the pre-initial public offering (IPO) investor for LYC SG's proposed listing.
KIB is the largest shareholder of LYC Healthcare with a 17.22% stake held via Kenanga Investors Bhd (6.46%) and Kenanga Islamic Investors (10.76%), according to Bloomberg data. The second largest is LYC Capital Sdn Bhd with 11.93%.
LYC Healthcare shares closed up one sen or 4.17% at 25 sen on Wednesday, giving it a market capitalisation of RM116.13 million.
2022-03-17 11:07