Q&M Dental Group secures US$15m loan from IFC

Q&M Dental Group (Singapore) says it has entered into a US$15 million ($18.5 million) loan agreement with International Finance Corporation (IFC), a member of the World Bank Group.

The loan consists of a US$10 million term loan and a US$5 million convertible loan which may be converted into new ordinary shares.

Q&M says proceeds from the loan will contribute towards the RMB180 million ($34.1 million) required to fund the company’s expansion in China. Q&M intends to continue building its dental business in China by the acquisition, establishment, expansion, operation and management of dental laboratories and clinics as well as through organic growth.