Singapore-based China Medical (International) Group Limited announced today that its board of directors has terminated its proposal to acquire Beverly Wilshire Medical Centres. China Medical entered into a framework agreement in June to acquire Beverly Wilshire Medical Centres for SG$7 million.
In a disclosure to the Singapore Exchange on Wednesday, China Medical (SGX:5IB) said the share purchase agreement was not entered into between the company and the sellers by 04 July 2014, resulting to the automatic termination of the framework agreement. – BusinessNewsAsia.com