Singapore: Q&M looks to sell down remaining Aidite stake

Q&M Dental, which operates the largest network of private dental outlets in Singapore, has received an offer from shareholders to buy out its remaining stake in Qinhuangdao-based Chinese digital dental supplier Aidite.

Aidite makes zirconium oxide blocks which are used to manufacture porcelain and composite inlays, onlays, crowns and bridges.

In October last year, Q&M Dental agreed to sell a 36% stake in the company to a consortium made up of Suzhou Junlian Xinkang Venture Capital, Health Advance, Schroder Adveq Asia Hong Kong and ASP Hero SPV.

That completed in April leaving Q&M with a 9.2% stake in the group

“The discussions on the aforesaid proposal relating to the disposal of the group’s remaining stake in Aiditeare ongoing and no definitive terms have been agreed upon between the parties,” it said in a statement.

Q&M originally bought Aidite in March 2015 for S$16m (US$11.9m). It sold down its stake to 51% when it spun the company off onto China’s Third Board via Nanjing Securities in December 2016. Aidite subsequently delisted a couple of years later.