or maybe:
SELECT *
FROM dbo.CL_CLINICAL_MASTER SPM
LEFT JOIN dbo.CL_ITEM_STOCK_MASTER BID
ON SPM.CCM_CLINICAL_CD = BID.CIS_CLINICAL_CD
RIGHT JOIN
(
dbo.CL_ITEM_MASTER IM
JOIN dbo.CL_ITEM_CATEGORY UM
ON IM.CIM_ITEM_CATEGORY_CD = UM.CIC_CATEGORY_CD
)
ON BID.CIS_ITEM_CD = IM.CIM_ITEM_CODE
The thing to remember with the *=/=* syntax is that the * is against the table where all the rows are preserved.