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HS Optimus Amends Acquisition Terms for Medicorp Stake

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HS Optimus (SGX:504) amended the terms of its proposed acquisition of a 30% stake in Brunei-incorporated medical equipment company Medicorp from Lee Rui Ren, according to a Wednesday Singapore Exchange filing.

Under the revised framework, HS Optimus' unit Ambertree can now acquire the shares while shifting certain pre-completion conditions into post-completion undertakings to expedite the process.

Furthermore, the seller will ensure the company receives at least SG$900,000 in aggregate dividends over four financial years, while Medicorp is required to rectify outstanding licensing issues and statutory filing compliance within six months of completion.

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