LYC Healthcare Acquires Majority Stake in Elite Dental Team, Expanding its Presence in Malaysia

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Malaysia: LYC Healthcare Bhd has completed the acquisition of a 55% equity stake in Elite Dental Team Sdn Bhd (EDTSB) for RM$5.5m (US$1.2m) through its wholly-owned subsidiary, LYC Dental & Aesthetic Holdings Sdn Bhd. This move adds 26 dental clinics under the Elite Dental brand to LYC’s portfolio, bringing its total number of dental clinics to 30. The clinics are located in Kuala Lumpur, Selangor, Penang, Johor, and Sabah.

Continuing Growth

The acquisition will also bring in synergies that are expected to help lift overall revenue from patient referrals and standardization of clinic protocols through its enlarged network and patient database across other healthcare platforms. LYC plans to continue its growth trajectory by establishing new clinic outlets and bringing in more dental services and technologies to attract more customers. LYC aims to open a fourth clinic under KL Dental by mid-2023, enhancing its total network.

Elite Dental is one of the fastest growing dental groups in Malaysia. Its clinics operate under several dental brands including PrimeCare Dental Clinic, Signature PrimeCare Dental, Lite Dental, Phi Dental and Quay Dental.

Providing Greater Access to Malaysians

The acquisition is expected to further strengthen LYC’s presence in the dental and aesthetic healthcare market in Malaysia, and provide greater access to quality dental services for Malaysians.

According to David Sui Diong Hoe, LYC Healthcare Bhd Managing Director and Group CEO, the acquisition is in line with the company’s goal to establish a healthcare ecosystem that supports individuals from newborns to the elderly. 

“The addition of Elite Dental clinics significantly enhances the market presence of our rapidly growing beauty and dental platform that is poised to benefit from the rise in spending amongst Malaysians for aesthetic-related services,” said David Sui Diong Hoe.