The sale was completed on November 18.
Meta Health Limited has acquired a majority stake in Jas Medical Screening Centre Pte Ltd from Lian Ah Lek, securing 55% of its issued and paid-up share capital.
The agreed consideration for the shares is $533,310, with $300,000 to be paid in cash and 23 million Meta shares to be issued to Lian at $0.01 per share.
Additionally, Meta has agreed to issue an additional 7.777 million shares to Lian if the clinic achieves an audited net profit after taxation of at least $175,000 in 2025, and another 7.777 million shares if the same target is met in 2026.
Incorporated in 2000, Jas Medical Screening Centre operates with two medical practitioners and offers healthcare services, including medical examinations for foreign workers. The clinic is equipped with chest X-ray facilities, serving as a one-stop medical examination centre for work permit applicants and holders.
Apart from Lian Ah Lek, the clinic's other shareholders are Johnny Lian Tian Yong and Xia Lei.
Johnny Lian Tian Yong, the CEO and a family member of the vendor, holds less than 5% of Meta Health's total issued shares and is not considered a direct or substantial shareholder. Xia Lei is a passive investor in the clinic.
Meta Health views this acquisition as an opportunity to enhance shareholder value and strengthen its financial position by incorporating an established clinic into its healthcare business portfolio.
The sale was completed on November 18.
