KUALA LUMPUR: LYC Healthcare Bhd
has proposed to acquire a 70% stake in Clinical Nutrition Intl (M) Sdn Bhd for RM2.24mil cash.
Clinical Nutrition is mainly involved in the supply of nutraceutical ingredients and owns a 50% shareholding in two proprietary probiotic strains – lactobacillus plantarum DR7 and lactobacillus fermentum DR9.
In a statement, LYC said it would streamline the interest in all its nutraceutical companies under LYC Nutrihealth Sdn Bhd (LYCN), a wholly-owned subsidiary under LYC Medicare Singapore Pte Ltd. The proposed acquisition is expected to be completed within three months.
LYCN will also enter into a put option agreement with the vendors of Clinical Nutrition for the remaining 30% shareholding, which shall be exercised from Sept 28, 2024 and shall expire by Sept 27, 2027.
