KUALA LUMPUR (Jan 5): Pharmora Investment Holdings Pte Ltd has succeeded in its takeover offer for Apex Healthcare Bhd (KL:AHEALTH) and is now en route to delist and privatise the pharmaceutical group.
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), according to a press notice issued by UOB Kay Hian (M) Sdn Bhd.
The stake exceeds the requisite 90% threshold to delist the group from the bourse.
According to the notice, Bursa Securities will suspend Apex Healthcare shares from trading from Jan 13 while Pharmora and its joint ultimate offerors will take the requisite steps to delist Apex Healthcare.
Pharmora is the 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.
Pharmora partnered with Apex Healthcare's major shareholder Dr Kee Kerk Chin who is also chairman and CEO of the group, to undertake the offer.
The offerors will also compulsorily acquire the remaining Apex Healthcare shares they do not already own.
On Dec 30, 2025, their valid acceptances had crossed the 90% of offer shares threshold to compulsorily acquire remaining shares from dissenting shareholders. The offerors will issue a compulsory acquisition notice by Feb 28.
The RM2.64 apiece takeover offer was launched on Nov 28, 2025. Its closing date was initially extended from Dec 19 to Jan 2.
The offer turned unconditional on Dec 22 after the offerors crossed the 90% threshold and was further extended to Jan 5.
Shares in Apex Healthcare ended four sen or 1.52% lower at RM2.60, valuing the group at RM1.88 billion.