Rubberex received shareholders’ approval for its proposed acquisition of 100% equity interest in Reszon Diagnostics International Sdn Bhd for a total purchase consideration of RM180 million and its subsequent proposed diversification into the healthcare business including a proposed change of name to Hextar Healthcare Berhad.
According to Rubberex’s Executive Director, Mr. Goh Hsu-Ming, “This acquisition presents a good opportunity for the Group to venture into the healthcare sector, seeing that the pandemic has raised overall health and safety awareness and created a high demand for healthcare-related products and services in the market. By expanding our product offerings, we hope to raise our profile in the market.” Mr. Goh further reiterated that while the healthcare business is complementary and synergistic to Rubberex’s core glove business, “diversifying into Healthcare is in line with the Group’s overall growth strategy of venturing into other income generating businesses that are profitable and sustainable for the long-term.”
On the name change in lieu of its diversification owner and sole largest shareholder of Rubberex, Dato’ Eddie Ong Choo Meng explains, “This is to better reflect the Group’s core business and future undertakings into the broader healthcare sector moving forward. We believe that Rubberex’s new identity, under the larger Hextar family, will pave the way for new growth trajectories in terms of markets, networks, and distribution channels, both here in Malaysia and globally.”
