Salcon’s Bloom Healthcare: The Dental-to-Aesthetics Pivot in Numbers

By Daniel Yeoh · OEM Sourcing & Supply Chain Writer · Published 29 Sep 2026

A water-engineering and glove group on Bursa Malaysia has put together a network of more than 80 dental, GP and aesthetic clinics in two years, and launched its own clinic skincare line. This piece looks at what the filings show about the cost and the approach.

Article type: Company profile (business analysis) · Scope: Malaysia, listed healthcare diversification, aesthetic clinics and clinic-owned skincare · Research period: 3–25 September 2026 · Written by: Daniel Yeoh · Fact-checked by: Farah Zainal · Last reviewed: 25 September 2026 · Corrections: via the Contact page

Quick answer

Salcon Berhad, a Bursa Malaysia group best known for water and wastewater engineering, entered healthcare in April 2024 through its subsidiary Bloom Healthcare Group. It started with a dental acquisition. By the end of 2025 the network had 46 dental clinics, 10 aesthetic clinics, 25 GP clinics and 2 spa and wellness centres. The brands include Klinik Pergigian Tulen and Kheng (dental) and Cantiq Clinic and Aessence Clinic (aesthetic). The Healthcare Division made RM26.5m revenue and a RM17.1m pre-tax loss in FY2025. In 1H FY2026 it made RM24.5m revenue and a RM12.0m loss (Salcon filings). Its skincare brand DermDefine has 9 NPRA notifications, all filed in November 2025 and all made by Malaysian contract manufacturers. This is a business analysis of public disclosures, not investment advice.

Key takeaways

• Built by acquisition first. The start was 70% of SPH Dental for RM7.28m (April 2024). The first-year network was 14 dental clinics. Penang dental groups were added in 2025 (RM3.70m and RM6.16m for 70% stakes). (Salcon AR2024, AR2025)
• Fast growth, losses still widening. Healthcare revenue rose from RM5.1m (FY2024, part-year) to RM26.5m (FY2025). The pre-tax loss went from RM1.3m to RM17.1m. In 1H FY2026 revenue tripled year on year and the loss also tripled. Management says most outlets are less than six months old.
• Aesthetics is one part of a wider mix. Aesthetic clinics were 10 of 83 facilities at end-2025. Salcon does not report aesthetics as its own line, so we cannot separate its revenue or profit.
• The skincare line is new and entirely local. DermDefine: 9 SKUs, all notified in November 2025, made by three Malaysian contract manufacturers. There are no public prices and no online store.
• Aesthetic and dental clinics share sites. In several towns a Cantiq or Aessence clinic sits in the same building as a Tulen or Kheng dental clinic. This fits the company’s stated aim of cross-referrals.

Who this is for

This piece is for clinic owners and investors in healthcare roll-ups who want to see what a listed diversification looks like in the early years, brand and product teams planning a skincare line inside a multi-clinic group, and suppliers looking at who makes clinic-group products. If you are comparing listed aesthetic players, read it together with our DC Healthcare (Dr Chong Clinic) profile. For the sector overview, read Aesthetics on Bursa: what the listed players tell us about clinic skincare.

What is Salcon, and why did it move into healthcare?

Salcon Berhad (Reg. 200201026133) is a diversified group whose revenue in FY2025 came mainly from engineering and construction (water and wastewater), property development, glove manufacturing, trading and services, and renewable energy. FY2025 group revenue was RM374.2m and net profit was RM0.8m (Salcon Integrated Annual Report 2025, Group CFO’s statement).

The company describes its healthcare move as “anchored in the robust, long-term fundamentals in primary care, particularly within dental sector” (company-stated, IAR2025 divisional review). It points to an ageing population and medical tourism as long-term demand drivers. The holding company for the division is Bloom Healthcare Group Sdn Bhd (formerly Salcon Smile Sdn Bhd), 90% owned by Salcon (Salcon AR2024, note 33).

How was the Bloom Healthcare network built?

Through a series of majority-stake acquisitions, followed by new outlets. Most operating companies are 50–80% owned, with the original owners keeping minority stakes. All figures below are from Salcon’s annual reports.

Goodwill for the healthcare unit was RM15.8m at 31 Dec 2025, up from RM7.5m a year earlier. That is the premium paid over the book value of the clinics acquired (AR2025, note 5). In its impairment test, management assumed an EBITDA margin of 6%–22% for the unit and an 11% pre-tax discount rate. This is the company’s own planning assumption for the division once the clinics are mature.

The aesthetic brands

Listings: our Google Maps capture of Malaysian clinics, 24–25 Sep 2026. Group totals are higher (83 facilities at end-2025) because GP, spa, Penang dental and very new outlets are not all captured under these four names.

Co-location pattern (our observation from listing addresses): Cantiq Setapak and Tulen KLTS are in the same block at KL Traders Square. Cantiq Melaka and Tulen Taman Lagenda share one address. Aessence Kepong sits near Kheng Kepong on the same road, and Aessence Klang is in the same Batu Nilam area as a Kheng branch. The group says it wants to “drive cross referrals” across dental, aesthetic, GP and wellness (IAR2025, company-stated). Putting clinics next to each other is a practical way to do that.

What do the numbers say?

Revenue is growing quickly and losses are growing too. Management blames start-up costs at new outlets. Salcon reports healthcare as one segment and does not split out dental, GP and aesthetic.

Group revenue: FY2024 RM298.4m; FY2025 RM374.2m; 1H FY2025 RM231.0m; 1H FY2026 RM146.3m; Q2 FY2026 RM75.5m. Share = our calculation.

Management’s explanation in the Q2 2026 interim report is that the variances were “mainly attributable to the expansion of the Healthcare Division’s range of services, namely dental, general practitioner, aesthetic and wellness centres”. It says many branches have operated for less than six months, and that “as the outlets mature, the cash flow deficit is expected to narrow” (company-stated).

Our reading: in 1H FY2026 the division lost about 49 sen for every ringgit of revenue. It needs a large improvement to reach the 6%–22% EBITDA margin used in management’s impairment test. Healthcare is also a much bigger part of Salcon now: 17% of group revenue in 1H FY2026, although that share is inflated by lumpy property revenue in 1H FY2025. The group had RM137.3m of cash and bank balances at end-2025 (IAR2025), so it can afford the build-out. Whether the clinics pay off depends on how quickly they fill up, which is what to watch in the next few quarterly reports. Group-level results for 1H FY2026 also include a RM43.3m pre-tax loss in investment holdings, which is unrelated to healthcare.

What is DermDefine?

DermDefine is the group’s own “medical-grade skincare” line (company-stated). It is held on the NPRA register by Bloom Healthcare Beauty & Wellness Sdn Bhd, a Salcon subsidiary with 54% effective ownership (IAR2025, note 7). The same company is named in the Cantiq Clinic website footer. All 9 notifications were filed in November 2025 (NPRA Quest3+ snapshot 3–5 Sep 2026, verified).

All nine are made in Malaysia by three local contract manufacturers, led by MYT Cosmetics Manufacturing (six SKUs); none is imported.

What the range tells us:

• Built for use in treatment rooms. An ultrasonic gel and two masks are consumables used during treatments. The cleanser, mist, SPF and targeted treatments look like a take-home regimen. This is a typical first range for a clinic group: products the clinic uses itself, plus basics for patients to buy.
• Launched quickly, after the acquisitions. The whole range was notified in one month, about 18 months after Salcon entered healthcare. Using several contract manufacturers with ready formulations makes that speed possible. A single factory building bespoke formulas would usually take longer.
• Sold in clinics only for now. We found no web shop, marketplace store or published prices (checked 25 Sep 2026), and Salcon does not report product sales separately. The dental brands had no own-brand oral-care notification in our NPRA snapshot.

If you are planning a similar clinic-group launch, our guide for small-MOQ skincare OEM projects and mistakes to avoid when choosing an OEM cosmetics manufacturer cover the supplier side.

How does Bloom compare with a pure-play aesthetic chain?

The two listed groups got into aesthetics in opposite ways. DC Healthcare grew its own clinic brand outlet by outlet from its first Kepong clinic and added skincare along the way. Salcon bought a multi-specialty network in two years and is still absorbing it.

Sources: company annual reports and interim reports cited above; NPRA snapshot 3–5 Sep 2026. Full DC figures in our DC Healthcare profile.

Practical guidance

• For groups buying clinics: plan for the costs of a roll-up. Salcon’s filings show goodwill doubling in a year and losses growing while new outlets ramp up. Budget for 12–24 months before new outlets reach their expected margins, and track that outlet by outlet.
• For a first skincare line in a multi-clinic group: start with products the treatment rooms already use (gels, masks) plus a short take-home regimen, as DermDefine did. Notify every SKU before use or sale. Our NPRA notification guide explains the process, and our step-by-step guide to launching a private-label skincare brand covers the wider plan.
• For suppliers pitching to groups like this: the buyer will often be a newly formed subsidiary with part-owners. Find out who approves the formula, who holds the notification and whether products are for treatment use, retail or both.
• Questions to ask before you copy the model: Will dental patients actually use aesthetic services? Can shared sites cut rent and staff costs? Who owns the product formulas if a part-owned clinic company leaves the group?

FAQ

What is Bloom Healthcare?
Bloom Healthcare Group Sdn Bhd is the healthcare arm of Salcon Berhad, 90% owned by Salcon. It runs dental (Tulen, Kheng, Tria, WS/JoyDental), aesthetic (Cantiq, Aessence), GP (MediPulih) and spa brands through part-owned subsidiaries. At end-2025 it reported 83 facilities.

When did Salcon enter healthcare?
In April 2024, when Bloom Healthcare Group agreed to buy 70% of SPH Dental Sdn Bhd for RM7.28 million in cash (Salcon AR2024). The dental network grew from 4 to 14 clinics that year, and aesthetic and GP clinics were added in 2025.

Is Salcon’s healthcare business profitable?
Not yet. The Healthcare Division lost RM17.1 million before tax in FY2025 and RM12.0 million in 1H FY2026, on revenue of RM26.5 million and RM24.5 million. Management says losses should narrow as new outlets mature. Check the latest quarterly report for the current trend.

Which aesthetic clinics does Salcon own?
Through Bloom Healthcare it operates Cantiq Clinic and Aessence Clinic, 10 aesthetic clinics in total at end-2025 (AR2025). Ownership of the operating companies varies, and several are part-owned by the original owners.

Where is DermDefine skincare made?
All nine SKUs are made in Malaysia by local contract manufacturers, according to NPRA records (snapshot 3–5 Sep 2026). The notification holder is Bloom Healthcare Beauty & Wellness Sdn Bhd.

Where can I buy DermDefine?
We found no online store or published price list as of 25 Sep 2026. The range appears to be used and sold in the group’s aesthetic clinics. Ask a Cantiq or Aessence clinic directly about availability.

How much of Salcon’s revenue comes from healthcare now?
About 7% in FY2025 (RM26.5m of RM374.2m) and about 17% in 1H FY2026 (RM24.5m of RM146.3m), by our calculation from Salcon’s reports. The 1H share is higher partly because property revenue in the comparison period was lumpy.

Sources and evidence

• Salcon Berhad, Integrated Annual Report 2025: Group CFO’s statement and segmental table, Healthcare divisional review, notes 5 (goodwill), 7 (subsidiaries), 33 (acquisitions). Accessed 25 Sep 2026.
• Salcon Berhad, Annual Report 2024: note 33, SPH Dental and dental laboratory acquisitions; Healthcare divisional review. Accessed 25 Sep 2026.
• Salcon Berhad, interim report for the quarter ended 30 June 2026: performance review, income statement.
• The Edge Malaysia, Salcon acquires 70% stakes in two dental firms (April 2025).
• New Straits Times, Bloom Healthcare Group launches Menara Bloom (26 May 2026).
• Salcon healthcare page, cantiqclinic.com, aessence.com.my, klinikgigitulen.com, khengdental.com. Checked 25 Sep 2026.
• NPRA, Quest3+ cosmetic notification search: holder Bloom Healthcare Beauty & Wellness Sdn Bhd, snapshot 3–5 Sep 2026.
• Google Maps listing capture of Malaysian clinics, 24–25 Sep 2026 (our dataset).

Limitations

Salcon reports healthcare as a single segment, so we cannot separate aesthetic revenue, aesthetic profit or product sales. Facility counts differ by source and date (83 at end-2025 per AR2025; “more than 100 clinics and outlets” per a May 2026 news report). Google Maps counts are listings found in our capture, not a full census. The NPRA register shows the notified manufacturer, not volumes. Links between specific clinics and DermDefine are based on shared company names and group structure. We did not interview the company, visit clinics or audit its accounts. All figures are correct at the dates shown.

Update history

About the author
Daniel Yeoh writes about OEM sourcing and supply chains, including how Malaysian clinic groups and brands source and launch products. Fact-checked by Farah Zainal.