Doctor Anywhere Pte Ltd intends to make a voluntary cash offer to acquire Asian Healthcare Specialists Limited (Catalist:1J3) from from group of sellers for approximately SGD 110 million on October 6, 2022. Under the terms, Doctor Anywhere will acquire the shares at SGD 0.188 per share. Transaction is subject to minimum Acceptance Condition and Third Party Consents. Xandar Capital Pte. Ltd. (the "IFA") to the Recommending Directors in respect of the Offer. On November 8, 2022, Doctor Anywhere Pte Ltd achieved the minimum tender and completed 90% stake in Asian Healthcare. The Offer being declared unconditional as to acceptances and the extension of the closing of the Offer. As the Offeror has received the Relevant Consents on 10 November 2022, DBS wishes to announce, for and on behalf of the Offeror, that the Third Party Consents Condition has also been satisfied. All conditions to the Offer have been satisfied and the Offer is hereby declared unconditional in all respects. As the Offeror has received valid acceptances pursuant to the Offer or acquired the Shares during the offer period otherwise than through valid acceptances of the Offer in respect of not less than 90 per cent. of the total number of Shares of the Companies Act to compulsorily acquire all the Shares of the Shareholders who have not accepted the Offer.
Transaction is expected to close on December 15, 2022. DBS Bank Ltd. acted as a financial advisor to Doctor Anywhere Pte Ltd. Xandar Capital Pte. Ltd acted as independent advisor & Boardroom Corporate & Advisory Services Pte. Ltd. as share registrar to Asian.
Doctor Anywhere Pte Ltd completed the acquisition of Asian Healthcare Specialists Limited (Catalist:1J3) from from group of sellers on December 15, 2022. The deal was partially funded Series C1 financing round of Doctor Anywhere.