Pharmora Investment Holdings Pte Ltd has successfully completed its takeover offer for Apex Healthcare Bhd and is moving to delist and privatise the pharmaceutical group.
In a press statement issued by UOB Kay Hian (M) Sdn Bhd, Pharmora and parties acting in concert said they had secured a 95.43% stake in Apex Healthcare as at the close of the voluntary takeover offer on Monday (Jan 5). This exceeds the 90% threshold required for delisting from Bursa Malaysia.
Pharmora and persons acting in concert secured a 95.43% stake in Apex Healthcare at the voluntary takeover offer’s close on Monday (Jan 5).
Following this, Bursa Securities will suspend trading in Apex Healthcare shares from Jan 13, while Pharmora and its joint ultimate offerors will proceed with the necessary steps to delist the company.
Pharmora is a special purpose vehicle of healthcare-focused private equity firm Quadria Capital Investment Management Pte Ltd, which is backed by Temasek Holdings (Private) Ltd and the Employees Provident Fund. The takeover was undertaken in partnership with Apex Healthcare’s major shareholder Dr Kee Kerk Chin, who is also the group’s chairman and chief executive officer.
The offerors will also compulsorily acquire the remaining shares they do not already own. Valid acceptances had crossed the 90% threshold on Dec 30, 2025, enabling compulsory acquisition of shares held by dissenting shareholders. A compulsory acquisition notice is expected to be issued by Feb 28.
The RM2.64 per share takeover offer was launched on Nov 28, 2025. It became unconditional on Dec 22 and was extended to Jan 5 after the closing date was initially pushed back from Dec 19 to Jan 2.
Shares in Apex Healthcare closed four sen or 1.52% lower at RM2.60, valuing the group at RM1.88 billion.
