πππTalkMed $TalkMed(5G3.SI)$ was the talk of the town yesterday on news that medical group Tamarind Health is offering 45.6 cents per share to privatise the company , valuing TalkMed at more than SGD 606 million.
Tamarind Health has the backing of 65 Equity Partners of which Temasek Holdings has shares. The offer is made via TW Troy, a vehicle held by Tamarind Health.
TalkMed which is founded by a group of doctors, has given an irrevocable undertaking in favour of the acquisition. These Founder Doctors which include Dr Ang Peng Tiam, Dr Khoo Kei Siong, Dr Lim Hong Liang and Dr Teo Cheng Peng owns 83% of Talk Med's total shares.
Upon completion of the acquisition, 65 Equity Partners will hold around 18% of the voting interest while the Founder Doctors will hold 31%.
Dr Ang Peng Tiam, CEO of TalkMed said that the new partnership is an extraordinary opportunity to improve care for cancer patients. The combined entity will open up opportunities for collaboration within a bigger oncology network. This means improved access to innovative treatments and a wide range of deep medical expertise. This is inline with Singapore's ambition as a centre of excellence in oncology.
The acquisition is subject to the approval obtained from regulatory bodies such as the Singapore Exchange and the Competition and Consumer Commission of Singapore.
I have invested in TalkMed since 2022 as I like the regular dividends paid twice a year. The current dividend yield is 7.9%. While I will miss the dividends, I will still benefit from the proceeds paid to shareholders on completion of the deal.
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