The Malaysian leading primary healthcare services provider, Catalist-listed Qualitas Medical Group has acquired 75 per cent stake in Dr Marcus Cooney & Associates Pte Ltd, which operates a Singapore dental clinic bearing the trade name 'SmileFocus'.

The Qualitas Group currently operates 166 clinics throughout the country.

The recent acquisition is cited to support its regional expansion, adding new branches in whole of Malaysia, emerging itself as a regional player in the primary health sector. However, the deal is speculated to be finalized in another three to six months.

The acquisition would be paid for in two tranches and might be fulfilled fully in cash or partly in cash, partly in Qualitas shares, with the final valuation being equal to 7.5 times SimeFocus's financial year 2010 profit after tax.

The group expresses its deep happiness to have a health business in New Zealand and looks forward to expand its service is Australia as well.

The company also plans to introduce imaging and laboratory services apart from medical and dental segments. It is currently in talks with a few parties and hopes an agreement can be reached within this year.