Mobile-health Network Solutions Enters Definitive Agreement to Acquire PPG and Kuching Data Center Asset Ready to Announce with Confidence?
Singapore, Singapore--(Newsfile Corp. - March 20, 2026) - Mobile-health Network Solutions (NASDAQ: MNDR) ("MNDR" or the "Company"), a leading AI HealthTech platform, today announced that, on March 16, 2026, it entered into a definitive Sale and Purchase Agreement ("SPA") to acquire 100% of the issued share capital of PP Grid Sdn. Bhd. ("PPG") from Dato' Ling Tiung Leng (Stanley Ling).
Strategic Acquisition Structure
This definitive agreement marks the formal execution of the strategic roadmap established by the Company's Memorandum of Understanding (MOU) dated November 19, 2025, and the Strategic Cooperation MOU dated March 15, 2026.
Under the terms of the SPA, MNDR will acquire PPG through a Cayman Islands Special Purpose Vehicle (SPV). PPG will serve as the primary holding vehicle for a minimum 96.5% equity interest in IRIX Properties Sdn. Bhd., which holds the legal and beneficial title to Lot 728, Block 3, Salak Land District (the "Kuching Land"). This site is designated for the development and construction of a 25 MW AI-optimized data center.
Key Transaction Terms and Relationship
Consideration: The purchase consideration is US$1,500,000, satisfied by the conversion of the refundable deposit previously rendered by MNDR under the November 2025 MOU.
Milestone Progression: This SPA transitions the project from the conceptual "ProjectCo" framework mentioned in earlier MOUs to a definitive asset-backed acquisition of PPG and IRIX Properties.
Conditions Precedent: Completion is subject to the Vendor securing 96.5% of IRIX Shares, obtaining all necessary AI data center permits, and receiving regulatory clearances for Malaysian foreign ownership restrictions.
Clawback Protection: The agreement includes a clawback mechanism where the Vendor must repay the consideration if warranties are breached or the transfer of IRIX/Kuching Land fails.
Operational Integration: Dato' Stanley Ling will provide post-completion assistance for 12 months to support integration and the development of the Kuching Land.
"We are thrilled to enter into this definitive agreement," said MNDR Co-CEO Dr. Siaw Tung Yeng. "This represents a major milestone in our strategic evolution. Having successfully concluded the acquisition framework for the Kuching AI Data Center, we are working closely with Dato' Stanley Ling to ensure this infrastructure meets our internal AI processing demands while providing high-density capacity for third-party users. This transforms MHNS into a leading AI-powered health and technology ecosystem."
Mr. Ling added, "My decision to integrate PPG into the MNDR AI ecosystem is rooted in deep confidence in our common mission. We are not just building a facility; we are building the engine that will power the future of accessible, AI-humanized healthcare on a global scale."
The ultimate commercial objective remains the listing of the Cayman SPV on a recognized stock exchange to fund ongoing AI data center infrastructure development.
Completion of the acquisition pursuant to the SPA remains subject to customary closing conditions.
MNDR will provide further updates upon this completion.
About Mobile-health Network Solutions
Mobile-health Network Solutions is a leading AI-powered digital health platform headquartered in Singapore, with operations across Southeast Asia and expanding into the US. The company provides telemedicine, AI-driven health tools, and virtual clinic infrastructure to empower patients and doctors worldwide. Its mission is to make healthcare accessible, intelligent, and human-through technology. For more information, please visit https://investors.manadr.com/.
Forward-Looking Statements
Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements include, but are not limited to, statements relating to the expected trading commencement and closing dates. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the following: the Company's ability to execute our strategies, manage growth and maintain our corporate culture; the Company's future business development, financial conditions and results of operations; expectations regarding demand for and market acceptance of our products and services; changes in technology; economic conditions; the growth of the telehealth solutions industry in Singapore and the other international markets the Company plans to serve; reputation and brand; the impact of competition and pricing; government regulations; fluctuations in general economic and business conditions in Singapore and the international markets the Company plans to serve and assumptions underlying or related to any of the foregoing and other risks contained in reports filed by the Company with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and Mobile-health Network Solutions specifically disclaims any obligation to update any forward-looking statement, whether because of new information, future events or otherwise, except as required by law.
For media inquiries, please contact:
Mobile-health Network Solutions Investor Relations Contact:
2 Venture Drive, #07-06/07 Vision Exchange
Singapore 608526
(+65) 6222 5223
Email: investors@manadr.com
Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5 th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289403
Source: Mobile-health Network Solutions
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