As at Oct 28, Acumen’s reportable segments comprise its laboratory business and offering Covid-19 vaccinations to the public under the tender contract with the Ministry of Health (MOH) at the Sengkang joint testing and vaccination centre (JVTC).
Q&M Dental Group announced, on Oct 28, that it has decided to suspend Acumen’s laboratory business after its clinical laboratory service licence expired on Sept 15. This is due to the loss-making position of Acumen’s laboratory business for FY2023 ended Dec 31, 2023, and 1HFY2024 as well as the shift away from conducting Covid-19 polymerase chain reaction (PCR) tests by the Singapore government.
Furthermore, Q&M sees that any potential cost savings and resources derived from suspending the laboratory business can be used for other businesses related to medical diagnostics or other future business of Acumen.
