KUALA LUMPUR: LYC Healthcare Bhd, via its wholly-owned LYC Dental & Aesthetic Holdings Sdn Bhd, has completed the acquisition of a 55 per cent stake in Elite Dental Team Sdn Bhd for RM5.5 million cash.
The addition of Elite Dental clinics brings the total number of dental clinics under LYC to 30.
This includes the three KL Dental Clinics which were also acquired by LYC in October 2022 and one KL Dental Clinic that was set up post-acquisition in Sunway Velocity Mall in Cheras.
LYC managing director cum group chief executive officer David Sui Diong Hoe said the acquisition was in line with its aim of building a healthcare ecosystem that supports new-borns all the way 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," he said in a statement.
Sui said throughout its dental and aesthetic clinics, LYC would build synergies to lift overall revenue from patient referrals and standardisation of clinic protocols through its enlarged network and patient database across the other healthcare platforms.
As the company sets its sights on further expansion, LYC will continue to grow via the establishment of new clinic outlets and to bring in more dental services and technologies to attract more customers.
Sui said a fourth clinic under KL Dental was scheduled to be opened by mid-2023, enhancing its total network.
LYC Healthcare said Elite Dental was one of the fastest growing dental groups in Malaysia and was widely believed to be within the top six largest groups in Malaysia by the number of clinics.
It operates 26 dental clinics nationwide including Kuala Lumpur, Selangor, Penang, Johor and Sabah.
The dental brands operating under Elite Dental are PrimeCare Dental Clinic, Signature PrimeCare Dental, Lite Dental, Phi Dental and Quay Dental.