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SBC Medical Group announced the sale of two subsidiaries, SBC Kijimadaira Resort (ski resort operations) and Skynet Academy (flight training operations), to focus on its core medical services business. The shares will be sold to a company owned by CEO Yoshiyuki Aikawa, making this a related party transaction that received board and audit committee approval.
The transaction, expected to close by December 2024, was valued by an independent third party. Kijimadaira shares were priced nominally due to negative equity, while SNA shares were valued using the DCF method. The company states the transaction's financial impact will be minimal, with no significant changes to its consolidated financial position.
SBC Medical Group Holdings (Nasdaq: SBC) has announced a definitive agreement to acquire Aesthetic Healthcare Holdings (AHH), a Singapore-based aesthetic medical treatment provider, in an all-cash transaction set to close on November 13, 2024. AHH operates 21 outlets across four brands in Singapore. This acquisition marks SBC's first step in its international expansion strategy, focusing on U.S. and Asian markets. Singapore was chosen as the hub for Asian operations due to its strategic location and developed medical infrastructure. The Asian aesthetic medical market shows an 11% annual growth rate, representing the second-largest share globally.
SBC Medical Group Holdings reported Q3 2024 financial results with total revenues of $53 million, up 12% year-over-year. Nine-month revenues reached $160 million, a 23% increase from 2023. Q3 operating income decreased 31% due to $12.8 million in stock-based compensation expenses related to listing. The company expanded to 224 partner clinics, serving 4.3 million customers (13.5% YoY increase). Net income for Q3 was $2 million, down from $8 million in 2023, while nine-month net income increased 60% to $40 million. Cash position strengthened to $137.4 million as of September 30, 2024.
SBC Medical Group Holdings (Nasdaq: SBC) has announced a strategic business alliance with MEDIROM Healthcare Technologies. The partnership combines SBC's 224 cosmetic treatment centers with MEDIROM's 300+ relaxation studios in Japan, jointly serving over 4 million loyalty program members.
The alliance aims to leverage their complementary customer bases - SBC's Shonan Beauty Clinic primarily serves women in their 20s-30s, while MEDIROM's Re.Ra.Ku focuses on male customers. An initial co-marketing campaign will run from November 15 to December 15, 2024, offering cross-promotional discounts across 130 Shonan Beauty Clinics and 230 Re.Ra.Ku stores.
SBC Medical Group Holdings and Pono Capital Two have completed their business combination, with SBC Medical set to begin trading on Nasdaq on September 18, 2024 under the ticker symbol 'SBC'. The company is a global provider of management services and products to cosmetic treatment centers, primarily in Japan. SBC Medical currently supports 164 franchisee treatment centers in Japan and has a presence in Vietnam and California.
The business combination aims to provide SBC Medical with improved access to capital, accelerate business alliances, and facilitate expansion in the United States and Southeast Asia. The company plans to pursue strategic options including business alliances with leading clinics and hospital groups, expand its franchise network, and strengthen its position in regenerative medicine and anti-aging services.
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