Post maternity care centre, LYC Healthcare Berhad is expanding following the completion of acquisitions of a medical aesthetic clinic, a beauty and wellness centre and three dental clinics under the KL Dental brand.
The medical group via its 60% indirect owned subsidiary LYC Beauty & Wellness Sdn Bhd now has a 100% stake in Tao Global Ventures Sdn Bhd, which owns and operates a medical aesthetic clinic and beauty and wellness centre located in Bandar Sri Damansara known as Dr D Clinic and iBody by Dr D which was acquired for RM4 million.
With the inclusion of Dr D Clinic and iBody by Dr D, LYC is now able to provide a range of aesthetic services which covers facework, bodywork, hairwork and regenerative medicine as well as treatments that focus on body contouring and wellness for post pregnancy, urinary incontinence, sexual/intimacy wellness, Diastasis Recti treatment, non-invasive “butt-lift” and abdominal/core strengthening.
Meanwhile, the three KL Dental clinics are wholly owned by the Group’s 70% indirect owned subsidiary, LYC Dental Group Sdn Bhd. Strategically located in prime areas such as Kiara 163, SS15 Courtyard in Subang Jaya and Taman Connaught in Cheras, the clinics were purchased for a total of RM3.2 million.
Managing Director cum Group Chief Executive Officer David Sui Diong Hoe said, “These acquisitions are in line with our strategic plan of expanding our footprint in the healthcare and wellness industry. Driven by rising affluence and a growing population, demand for medical aesthetics and dental services will continue to rise.”
The acquisitions are earnings accretive and are expected to contribute positively to LYC’s financial performance. The acquisition of Tao Global comes with a 2-year annual profit guarantee of RM500,000 for the financial years ending 31 March 2024 and 31 March 2025. The three dental clinics recorded an aggregate profit after tax of RM0.5 million for the 12-month financial period ended 31 December 2021.
As one of the largest postpartum confinement operators in Malaysia with a total capacity of 193 beds, LYC has also acquired chronic disease and orthopaedics specialist clinics, and nutraceutical businesses involved in the manufacturing and distribution of supplements and pharmaceutical-based products. The Group aims to create synergies between these business units whilst tapping into the exciting market potential within the region.
