Cengild Medical's subsidiary, Cengild Sdn Bhd, is set to acquire a Kuala Lumpur stratified property for RM122.34 million, part of a proposed 17-storey medical centre building.

The acquisition aims to strengthen Cengild Medical's position as an independent healthcare provider specializing in gastrointestinal, liver diseases, and obesity.

The funding will come from internal funds, bank borrowings, and re-allocated IPO proceeds.

The company also proposes a variation and extension of IPO proceeds utilisation to partially fund the acquisition and support various strategic initiatives.