Q & M Dental Group has binding deals to buy Australia's Experteeth group for A$119.64 million plus growth capital, and a 51% stake in Thailand's Deezy Q & M for THB 994.5 million. The transactions are not complete. Their scale points to a wider dental platform, with local clinical leadership intended to remain in place.
The expansion follows stronger first-half results. Revenue rose 13% to S$99.5 million in the first half of 2026, while profit attributable to shareholders climbed 27% to S$4.9 million. Almost all revenue growth came from the core dental business, which also increased 13%. Investing.com's financial summary lists first-half revenue of S$99.462 million, net income of S$4.897 million and earnings per share of S$0.010.
Before the proposed sale of a majority stake in EM2AI, Q & M had agreed to acquire the remaining 51% of the unit from shareholders including Ng Chin Siau, Ang Ee Peng Raymond and San Yi Leong for S$1.76 million.
The distinction matters because dental growth drove the operating results, while profit guarantee income from earlier acquisitions is non-recurring.
Acquisition terms and operating model
Q & M plans to fund the deals with cash and bank facilities. It also plans to issue new shares equivalent to about 9% of its capital. Long-term service agreements and multi-year profit guarantees are among the proposed protections. Share lock-ups and escrow arrangements are also intended to keep vendors aligned. The company says it will add group capabilities in governance and operations, then build on its procurement, technology and talent resources without imposing a uniform operating model.
Under the proposed EM2AI transaction terms, Medi Lifestyle undertook to raise or secure at least S$30 million in capital within two years after completion to support the unit's operations.
In Singapore, Q & M aims to improve performance by upskilling about 100 dentists through its College of Dentistry. It also expects to benefit from enhanced government dental subsidies. The group expects complex specialist work to remain anchored in Singapore, even as the Johor Bahru to Singapore RTS link could intensify cross-border competition.
Refocusing on core dentistry
Q & M is also looking to reduce its exposure to businesses outside its clinical focus. A later Simply Wall St transaction update said Medi Lifestyle had proposed acquiring 60% of EM2AI for S$7.4 million, with Q & M retaining 40%. The proposal includes the issue of 138 million Medi Lifestyle shares. EM2Clinic and the clinic management system are to be carved out of EM2AI before closing. The transaction remains a proposal, not a completed sale.
China remains a drag. Aoxin Q & M has faced weaker primary healthcare revenue amid competition and price controls, and is pursuing a transfer to SGX Mainboard. Across the group, management is weighing regional deals and debt funding against shareholder returns. Its stated policy is to distribute at least 30% of core operating earnings as dividends, and its historical payout has been well above that threshold.
