Hyphens Pharma has completed the acquisition of the remaining 18% shareholding in Ardence Pharma Sdn Bhd, comprising 36,000 Tranche 3 Sale Shares, for a total consideration of RM15,945,133 (S$5,177,000), subject to adjustments under the sale and purchase agreements. The consideration is being settled from internal resources, and Ardence Pharma is now a wholly owned subsidiary of the Group.
Ardence Pharma is a boutique pharmaceutical company specialising in aesthetic medicine, providing clinically proven aesthetic products to physicians and consumers. It anchors the Group’s Medical Aesthetics business, which has established initial scale in Singapore and Malaysia and is expanding into newer markets including Thailand, Indonesia and the Philippines.
Mr Lim See Wah, Executive Chairman and CEO of Hyphens Pharma, remarked: “Ardence Pharma has been a strategic acquisition for the Group as it has helped to kick-start our Medical Aesthetics business with its portfolio of high quality clinically-proven aesthetic products as well as contributed to our bottom line. Now as a wholly-owned subsidiary, Ardence Pharma, and the ‘Ardence’ brand will continue to help us drive the growth of our Medical Aesthetics business in the region. I am happy to note the progress made by our Medical Aesthetics business so far and remain confident that it will continue to develop as a sustainable growth pillar for the Group.”
