HMI commits $40 mil to acquire 62.5% stake in StarMed

SINGAPORE (May 14): Health Management International (HMI) has announced the acquisition of a 62.5% equity stake in StarMed @ Farrer Square. On top of the purchase price of $6.9 million, HMI will inject a $1.9 million shareholders loan while assuming obligations of up to $31.2 million worth of loans, in proportion to its shareholdings.

The cash consideration of $8.8 million will be funded from proceeds of Heliconia Capital Management’s $11.0 million placement in November 2017.

StarMed @ Farrer Square owns StarMed Specialist Centre, a new proposed day-surgery and multi-disciplinary medical centre at Farrer Park in Singapore, spanning 16,000 sq ft spread across four storeys.

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