Latest news with #TalkMed
Business Times
15-07-2025
- Business
- Business Times
TalkMed shareholders approve Tamarind Health's privatisation offer
[SINGAPORE] Shareholders of TalkMed on Tuesday (Jul 15) approved a proposed privatisation offer from Tamarind Health. Ninety-eight shareholders, representing 89.1 per cent of those present and voting at an extraordinary general meeting of the comapny, voted for the scheme meeting resolution. The shareholders in favour held a total of 1.2 billion shares, or 99.9 per cent of the total shares represented at the meeting. On Dec 23, 2024, TW Troy, a special-purpose vehicle managed by Tamarind Health, proposed to privatise mainboard-listed TalkMed by way of a scheme of arrangement, at S$0.456 per share. The Competition and Consumer Commission of Singapore cleared the proposed acquisition on Jun 27. Following the approval given by shareholders at the meeting, TalkMed said it will submit to the court its application to sanction the scheme. The company expects the hearing for this application to be held on or around Aug 5, and the last day for its shares to be traded to be on or around Aug 8. Its books are expected to be closed at 5 pm on Aug 19. Subject to the grant of the court order and satisfaction of all the scheme conditions, the scheme will become effective and binding once the court order is lodged with the Accounting and Corporate Regulatory Authority. TalkMed expects the effective date to be Aug 20. Payment of the scheme consideration is expected to be by Aug 29, before the company's delisting by Sep 2. In a separate filing on Tuesday evening, TalkMed requested the lifting of trading halt, which began earlier in the day. Shares in the company last traded at S$0.455.
Business Times
27-06-2025
- Business
- Business Times
CCCS okays Tamarind Health's proposed acquisition of TalkMed
[SINGAPORE] The Competition and Consumer Commission of Singapore (CCCS) has cleared Tamarind Health's proposed acquisition of tertiary healthcare service provider TalkMed Group on Friday (Jun 27). The competition watchdog assessed that the proposed transaction will not substantially lessen competition within the Singapore market. TW Troy, a special purpose vehicle managed by Tamarind Health, proposed to privatise mainboard-listed TalkMed by way of scheme of arrangement, at S$0.456 per share, on Dec 23, 2024. CCCS said it commenced its review on Jan 13 to see whether the proposed privatisation would infringe Section 54 of the Competition Act 2004, which prohibits mergers that may substantially lessen competition. It conducted a public consultation from Jan 21 to 31, seeking feedback from stakeholders such as the involved parties' competitors and insurance service providers. Based on its assessment of the parties' submissions and third-party feedback, CCCS concluded that the proposed transaction is unlikely to substantially lessen competition in Singapore in relation to the supply of private medical oncology services. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Medical oncology refers to the field of medicine that deals with the treatment of cancer primarily with drugs, such as chemotherapy. CCCS reasoned that patients can choose alternative providers of medical oncology services in both public and private sectors in Singapore, limiting the impact of the proposed merger. Furthermore, it added that any increase in the parties' market power upon the proposed transaction would likely be constrained by insurers – who play a 'significant role' in affecting how patients select and finance private medical oncology services – as well as the regulatory framework governing the healthcare sector in Singapore. Tamarind is a pan-Asian oncology-focused group headquartered in Singapore. It is controlled by alternative asset manager Templewater and its affiliates. As part of the deal, 65 Equity Partners, a Singapore-based global investment firm backed by Temasek, will subscribe for shares in Tamarind Health through its local enterprise fund. After the transaction, 65 Equity Partners will hold about 18.3 per cent of the voting interest in Tamarind Health, while doctor shareholders will hold about 31.3 per cent. Shares of TalkMed closed flat at S$0.45 on Friday, before CCCS' announcement.
