Expansion of Dental Offering and Acquisition Update by Pacific Smiles Group Limited

Pacific Smiles Group Limited (ASX: PSQ) has announced that it has entered into a non-binding Memorandum of Understanding (MoU) with nib Health Funds (nib) to expand its dental offering. Pacific Smiles currently owns and operates 11 nib dental care centers where nib members can receive fully funded gap-free preventative dental care.

The MoU outlines an expected amendment to the current contract, which includes the provision of the preventative dental offering to the 117 Pacific Smiles Dental centers on an exclusive basis for two years, starting from July 1, 2024. Pacific Smiles announced that it has entered into a Scheme Implementation Deed with National Dental Care (NDC) for NDC to acquire 100% of the shares in Pacific Smiles. The acquisition will be done through a scheme of arrangement for a cash consideration of AU$1.90 per share.

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