SINGAPORE - A wholly-owned subsidiary of Q&M Dental Group has completed its acquisition of Covid-19 test kits and related business from biotech company Acumen Research Laboratories , Q&M said in a bourse filing late on Sunday .
Q&M on Sunday said that following internal review and due diligence, Acumen Diagnostics had agreed to pay ARL an additional $250,000 in cash, subject to certain performance conditions having been met. As part of the joint venture agreement announced in April, Acumen Diagnostics was to issue new shares to Dr Ong, Dr Ong's sister-in-law Amy Zeng, and Acumen Holdings, such that they will each hold 30.7 per cent, 5 per cent and 13.3 per cent of Acumen Diagnostics, respectively.
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