Sunday 18 August, 2019

SSL Ventures acquires stake in health-care provider

SSL Venture Capital CEO Mark Croskery expressed confidence in the growth potential of Alpha Imaging, noting that the SSL Ventures was excited about investing in SMEs locally. (Photo via SSL Jamaica, Facebook)

SSL Venture Capital CEO Mark Croskery expressed confidence in the growth potential of Alpha Imaging, noting that the SSL Ventures was excited about investing in SMEs locally. (Photo via SSL Jamaica, Facebook)

SSL Venture Capital has acquired an associate 20 per cent stake in health-care provider Alpha Imaging Limited as it continues to round out its portfolio of investments. 

Alpha Imaging Limited is a radiology company that intends to operate from 21 Tangerine Place in the medical profession zone in front of Medical Associates Hospital in Kingston.

Under the name Alpha Imaging Center, it will offer the most advanced diagnostic image services not only in Jamaica but in the region, SSL Venture Captial said in a notice to the Jamaica Stock Exchange.

SSL Venture Capital CEO Mark Croskery expressed confidence in the growth potential of Alpha Imaging, noting that the SSL Ventures was excited about investing in SMEs locally. 

The company, via a notice to the Jamaica Stock Exchange also said it will no longer pursue investments in Radiant Energy as previously announced.

“Not every deal we pursue will result in a closing and we are not at liberty to disclose same but we are happy we have closed on Alpha Imaging Ltd and their potential,” Croskery noted. 

At the same time, trading of SSL Venture Capital stock is expected to resume on Thursday, August 14, after a nearly two-month suspension. 

SSL Venture Capital in June requested that its shares be suspended to address concerns regarding its financial statements for the year ended December 2018.

Its auditor Baker Tilly Strachan Lafayette had avoided giving an opinion on the company’s’ audited results due to what it described as insufficient information on its subsidiary companies. 

The auditor had specifically raised questions about the quantification of goodwill regarding three new acquisitions.

SSL Ventures listed last summer following the reverse merger of cash-strapped publisher C2W Music Limited. 

It subsequently acquired stakes in three start-up ventures, providing business development corporate governance, recruiting and strategic planning.

SSL Ventures holds equity positions in three unlisted marketing companies – Bar Central, 75 per cent acquired for $5.9 million; Blue Dot Media Intelligence, 50 per cent for $53.7 million; and Muse 360 Integrated Limited, 51 per cent for $26.4 million. 

Get the latest local and international news straight to your mobile phone for free:

  

Comments