Paragon Care (ASX:PGC) said that its wholly-owned unit Paragon Care Singapore entered into a binding share purchase agreement for the proposed acquisition of Haju Medical Indonesia and Insightof, which provide medical aesthetic services and technology, for a total consideration of AU$70 million, according to a Monday Australian bourse filing.

AU$30 million of the consideration is to be paid upfront on completion, and the remaining balance is to be paid over around two years post-completion, subject to minimum earnings before interest, taxes, depreciation, and amortization targets being achieved.

It will fund the deal via previously disclosed working capital facilities of NZ$12 million in New Zealand and $17 million in Thailand.

Paragon Care said the proposed acquisition was complementary to its business in Thailand and will accelerate its strategy to establish a comprehensive Asian footprint. It expects to complete the acquisition on or around Jan. 30, 2026. Completion is subject to several customary conditions, including obtaining merger filing clearance in South Korea, securing the necessary change of control consents from counterparties, and completing pre-acquisition announcements and creditor clearance in Indonesia.

Its shares fell 1% in recent trading on Monday.