Q&M unit temporarily halts lab operations as licence expires

The company must apply for a new license to continue its operations.

Q&M Dental Group unit Acumen Diagnostics has temporarily halted its operations after its laboratory license expired on 15 September.

On 13 September, the Ministry of Health (MOH) notified Acumen that its license, issued to its CEO, Dr Ong Siew Hwa, as the licensee under the business name Acumen, would expire.

Acumen placed Dr. Ong on a leave of absence in June to facilitate investigations into her acquisition of an indirect interest in the assets of Acumen’s supplier, as well as other related issues stemming from the acquisition.

Acumen has taken steps to change the principal officer from Dr. Ong to Mr. Lua Chong Hui Joseph and to transfer the laboratory licence to Acumen.

However, MOH rejected both requests, stating that the application was not submitted by or on behalf of Dr. Ong, the licensee of the laboratory licence and that the licence does not allow for transfer or assignment.

MOH said Acumen would need to apply for a new laboratory licence to continue its operations.

Acumen will assess and review the financial impact on the earnings per share and net tangible assets per share of the company for FY2024. 

The company advises shareholders to exercise caution when dealing in the company’s securities and to refrain from taking any action in relation to their shares that may be prejudicial to their interests.