Clearbridge Health *Official* (SGX:1H3)

Jupiter2017

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http://www.businesstimes.com.sg/sto...po-at-s028-a-share-trading-to-start-on-dec-18
Clearbridge Health prices IPO at S$0.28 a share, trading to start on Dec 18
MON, DEC 11, 2017 - 10:00 PM MARISSA LEE marilee@sph.com.sg

CLEARBRIDGE Health is raising net proceeds of S$21.4 million through an initial public offering (IPO) to build a healthcare business focused on precision medicine services.
Clearbridge, the medtech investor formerly known as Clearbridge Accelerator, is placing out 88 million shares at S$0.28 each.
It plans to start trading on the Catalist board of the Singapore Exchange on Dec 18.
No shares are being offered to the public.
The company would have a market cap of S$134.7 million at the IPO price of S$0.28 a share.
Clearbridge Health is helmed by Jeremy Yee, the former CEO of Singapore-listed Cordlife Group. He joined Clearbridge in May, and set up two clinics in Singapore and Hong Kong.
These are staffed by six doctors specialising in internal medicine, who are more qualified than normal general practitioners, Mr Yee said.
Patients can visit for health screenings. The clinics also service cancer patients and diabetic patients as well.
Mr Yee told reporters last week: "Patients who have been diagnosed in the public sector with a certain sort of cancer who want to go on a parallel track on the private side and have some hand-holding can come to us."
Some S$11 million of the IPO proceeds will be used to expand the medical clinics business.
Clearbridge has entered into a term sheet with certain individuals for the potential acquisition of a medical centre in the Philippines.
Another S$3 million will be used to expand the group's laboratory testing services business and S$7.5 million set aside for working capital.
At the end of June, Clearbridge's revenue was derived solely from the provision of lab testing services at its in-house laboratory, Sam Lab.
In the six months to June 30, Clearbridge's pro forma net loss widened to S$2.03 million from S$1.27 million a year earlier. Revenue in the period was S$284,000.
More than 2,000 specimens have flowed through Sam Lab since it was set up in 2009, said Mr Yee.
"These are all patients that we can get back to them and talk about further health screenings," he said. Among other tests, Sam Lab offers a circulating tumour cells (CTC) CellSearch test for the prognosis of breast, prostate and colorectal cancer patients.
Mr Yee emphasised that Clearbridge has low debt and a S$9.8 million cash pile as at June 30, before the IPO fees.
Net asset value per share was 13.8 Singapore cents based on the group's pro forma statements as at June 30.
Clearbridge said that it expects operating expenses to increase in the near term after the IPO, and it cannot be certain that it will achieve profitability.
United Overseas Bank is the sponsor, issue manager and placement agent.
 
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Shion

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How clear is Clearbridge Health post-listing outlook?

How clear is Clearbridge Health post-listing outlook?

https://www.theedgesingapore.com/how-clear-clearbridge-health-post-listing-outlook

SINGAPORE (Dec 14): Clearbridge Health (CBH), the healthcare firm which focuses on the delivery of precision medicine, boosts a capable team to lead its expansion across Asia, says Maybank KimEng.

CBH is an early entrant in Asia metabolomics profiling, precision oncology testing and genetic-based screening tests. The company also provides a range of healthcare services, from primary preventive services to oncology diagnostic services.

Top management is helmed by CEO Jeremy Yee who has experience in other medical related business throughout Asia including stints as CEO of SGX-listed Cordlife Group and COO of ASX-listed Cordlife.

In conjunction with its listing, CBH is selling 88 million new shares at 28 cents each by way of placement. Of the $24.6 million raised, $11 million is earmarked for expansion of medical clinics and centres, $7.5 million for working capital and general corporate purposes and $3 million for expansion of lab testing services.

Markets eyed by CBH include the Philippines, Indonesia, Myanmar, India, Malaysia and China. CBH has already entered into a term sheet for the potential acquisitions of a medical centre in Philippines.

Based on its 481 million issued shares, CBH will have a market cap of $134.7 million immediately at listing. Major shareholders include Halcyon Investment Capital with a 24% stake, Johnson Chen with 15.7% stake, Maxim Vorobyev with 8.3% and Johnny Chen at 6.4%.

As for the risks, analyst John Cheong says CBH incurred a net loss of $2.1 million for FY16 ended Dec and $2.4 million for 1H17 with revenue coming in at $716,000 and $284,000 respectively. CBH also expects operating expenses to increase after listing.

CBH may also require extra funding to implement its long-term business strategies. It may not be able to raise finance in a favourable term. Also, shareholders might be diluted if CBH issues new shares or other securities, says Cheong.

Meanwhile, CBH operates in a highly regulated industry and its business is subject to extensive regulations, licensing and accreditation requirements. Compliance and violation might lead to additional costs and resources.

Skilled and qualified staff is required to operate and manage the laboratory and medical clinics/centres. CBH’s ability to attract, retain and motivate staff is also crucial.

CBH will start trading on Catalist on Dec 18.
 

ccostagmont

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Net loss company will chiong up on ipo???

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Jupiter2017

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http://www.businesstimes.com.sg/com...but-at-s028-but-sees-slight-gains-within-hour
Clearbridge makes flat debut at S$0.28, but sees slight gains within hour
MON, DEC 18, 2017 - 10:04 AM UPDATED MON, DEC 18, 2017 - 3:48 PM LEE MEIXIAN leemx@sph.com.sg

CLEARBRIDGE Health began its trading debut on Monday flat against its initial public offering price (IPO) of S$0.28, but rose as much as 7.1 per cent or two cents to S$0.30 in the day.
As at 3.31pm, the counter was back at S$0.28, and 8.5 million shares had changed hands, placing it among the most active stocks on the market.
The Asia-focused healthcare precision medicine services provider sold 88 million shares in an all-placement offering for a Catalist listing. The IPO price valued the company at S$134.7 million.
Clearbridge raised S$21.4 million through the IPO, of which S$11 million will be used to expand the medical clinics business. Another S$3 million will be used to expand the group's laboratory testing services business, and the rest is earmarked for working capital.
In a statement, Jeremy Yee, executive director and chief executive officer of Clearbridge, said: "We are confident of the huge potential for greater adoption of precision medicine in Singapore and around the region. Healthcare is integral to life today with global healthcare spending projected to grow from US$7 trillion in 2015 to US$8.7 trillion by 2020.
"We believe that precision medicine is the future of healthcare. We are grateful for the strong support from the investment community and we hope that our listing will serve as a strategic springboard for Clearbridge Health to grow our brand, scale and presence across Asia."
The listing brings the total number of healthcare companies listed on the Singapore Exchange (SGX) to 35, with a combined market capitalisation of more than S$55 billion, according to data provided by the SGX.
The total number of companies listed on Catalist now stands at 199, with a combined market capitalisation of over S$12 billion.

Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=1H3.SI
 
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Jupiter2017

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http://www.businesstimes.com.sg/com...y-stake-in-philippine-medical-centre-operator
Clearbridge Health unit to buy stake in Philippine medical centre operator
THU, JAN 04, 2018 - 7:03 PM MICHELLE QUAH michquah@sph.com.sg

CLEARBRIDGE Health, the medtech investor formerly known as Clearbridge Accelerator, will be purchasing a 65 per cent stake in a Philippine healthcare company for 69.6 million pesos (S$1.9 million) in cash, following through on a transaction announced during its initial public offering (IPO) last month.
Then, Clearbridge Health had said that it had entered into a term sheet for the potential acquisition of a medical centre in the Philippines as part of its plans to grow the group's business.
On Thursday, it announced that its wholly owned subsidiary, Clearbridge Health (Philippines), Inc, has entered into a conditional share purchase agreement to buy 65 per cent of Marzan Health Care Inc, which owns and operates a medical centre in Manila.
Clearbridge Health said that the book value and net tangible assets of Marzan Health Care were approximately 99 million pesos, based on the target company's unaudited management accounts for the nine months ended September 2017. No independent valuation was conducted on Marzan Health Care, it added.
Clearbridge Health said that the deal is in line with its growth plans to expand its network of medical clinics and centres in the region. It added that Marzan Health Care has the required licences to provide a wide range of medical services in the Philippines, and that this would accelerate the group's expansion into the country as the process of building up the infrastructure and obtaining similar licences can typically take an extended period of time.

Price link: http://www.shareinvestor.com/fundamental/factsheet.html?counter=1H3.SI
 
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