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|Aoxin Q & M acquires 49% stake in Acumen Diagnostics for S$29.4m|
- Aoxin Q & M acquires a stake in Acumen Diagnostics, one of the leading homegrown medical diagnostics and technology companies in Singapore
- With Q & M holding a majority 51% stake in Acumen Diagnostics, the acquisition, upon completion, raises Q & M's total effective ownership in Acumen Diagnostics to 67.15%, based on Q & M's 32.95% equity stake in Aoxin Q & M
- Acquisition will be immediately profit accretive; presents opportunity to assist in providing an essential capability to Singapore in this next phase of tackling the COVID-19 pandemic, as the availability of good quality test kits and testing services will be an important cog in the national response to treating and living with COVID-19