Clearbridge Health to Divest Loss-Making Hong Kong Clinic Business

MT Newswires

08/17

Clearbridge Health (SGX:1H3) unit, Clearbridge Medical Ground, has agreed to dispose of its entire stake in Clearbridge Medical Hong Kong for HK$260,000, according to a Friday filing with the Singapore Exchange.

The disposal, which was completed on the same day, is expected to result in a loss of around SG$70,793.

The buyer, Tengfai (Hong Kong), will assume Clearbridge Medical Hong Kong's ongoing operating costs, with the disposal allowing the healthcare services company to exit a loss-making asset and avoid continuing to fund its recurring costs in Hong Kong.

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