Q&M completes ฿994.5 million acquisition of majority stake in Deezy
The deal brings 33 Thai dental clinics into the group, with the vendor guaranteeing about ฿1.25 billion in audited net profit after tax over six years.
Singapore’s Q&M Dental Group has acquired 51 per cent of Deezy Q & M Dental Group (Thailand) for ฿994.5 million, according to its Nov 13 bourse filing. The business operates Deezy Dental Home clinics across Bangkok and north-eastern Thailand.
Q&M paid ฿700 million in cash, funded through borrowing and internal resources, with another ฿294.5 million covered by newly issued shares. The vendor received 16,375,714 Q&M shares priced at S$0.70 each, subject to a moratorium lasting 15 years.
The vendor’s profit guarantee covers about ฿1.25 billion in audited net profit after tax between Nov 1, 2026 and Oct 31, 2032. Deezy founders Nanthisak Piyanantisak and Thunyaporn Pongkajornkitjakarn are also guarantors.
Any shortfall will first be covered by the vendor giving up dividends in favour of Q&M. The founders are jointly and severally responsible for amounts remaining. If a shortfall is still unpaid after the specified 90-day payment period, Q&M can require the vendor and guarantors to repurchase the stake for the full consideration plus simple annual interest of 10 per cent from completion.
Both founders have agreed to remain for 15 years under service contracts containing non-compete and non-solicitation provisions. Nanthisak will take a management role, while Thunyaporn will continue as a key dentist.
Founded in 2017, Deezy has more than 400 dentists and has treated over 400,000 patients. Q&M said its priorities include integrating the business while retaining local clinical practices, alongside sharing procurement, training and operational expertise.
