Singapore Paincare receives acquisition bid of $0.16 per share

The bid values the company at $33.24m (US$25.7m).

Singapore Paincare Holdings Limited has received a privatisation offer from Advance Bridge Healthcare Pte. Ltd. at S$0.16 per share, through a scheme of arrangement.

The deal was formalised with an implementation agreement signed on 28 May 2025.

The offer covers all issued and fully paid-up ordinary shares, excluding treasury shares and shares held by Dr. Lee Mun Kam Bernard and Dr. Loh Foo Keong Jeffrey.

As of the announcement, Singapore Paincare’s issued and paid-up share capital is approximately $25.7m, consisting of 171 million shares, excluding 8.6 million treasury shares.

Lee and Loh, who are directors of both Singapore Paincare and Advance Bridge Healthcare, hold 48.7 million shares (28.48%) and 27.9 million shares (16.29%), respectively.

These 76.6 million shares, representing 44.77% of total issued shares, will not be purchased for cash. Instead, the two doctors will transfer their shares to Advance Bridge Healthcare in exchange for new shares at the same valuation of S$0.16 per share.

The proposed privatisation offers minority shareholders an immediate cash exit at a premium over historical trading prices, without incurring brokerage fees.

According to Advance Bridge Healthcare, Singapore Paincare has not raised equity since its 2020 IPO and is not expected to do so.

The firm believes a public listing is no longer necessary and that delisting will eliminate compliance costs, allowing resources to be redirected to business operations.

The transaction is subject to shareholder approval and sanction by the High Court of Singapore.

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