Catalist-listed healthcare company HC Surgical ramps up its expansion plans

Surgical Specialists is a medical services company which provides endoscopic procedures through a network of clinics in Singapore founded by Dr Heah Sieu Min in 2015.
Surgical Specialists is a medical services company which provides endoscopic procedures through a network of clinics in Singapore founded by Dr Heah Sieu Min in 2015. PHOTO: SGX

SINGAPORE - As part of its growth plans, a joint venture company of Catalist-listed HC Surgical Specialists will partner Nex Healthcare and several doctors to manage Nex Healthcare.

Doctors Tan Teck Jack, Chee Boon Ping, Kelvin Goh Tze Chien and Amy Wee will hold 45 per cent of the shares in Nex Healthcare. HSN, the joint venture company of HC Surgical Specialists, will hold the remaining 55 per cent for $1.858 million.

HC Surgical Specialists said it would fund the joint venture agreement entirely through its internal resources.

Nex Healthcare has also entered into a business transfer agreement with Northeast Health International to acquire the pharmaceutical business and provision of medical managed services in NHI.

These include the procurement of medical and pharmaceutical products, as well as the provision of marketing, human resource and book keeping functions.

Founded in 2015 by notable colorectal surgeon Dr Heah Sieu Min, HC Surgical Specialists is a medical services company which provides endoscopic procedures through a network of clinics in Singapore. These procedures include treatments for haemorrhoids, hernias, colorectal cancer and stomach cancer.

The firm has been on a steady trajectory of expansion. In February, it completed its acquisition of Julian Ong Endoscopy & Surgery for $2.2 million.

On Wednesday, it announced two more acquisitions. The first was a purchase of 49 per cent equity interest in Medinex, a management and service provider fo rthe medical clinics industry. It provides services such as setting up medical clinics and training nurses and administrative staff on medical clinic systems.

The other acquisition was that of 51 per cent of the entire issued share capital in Medical L & C Services, a company which provides chronic home care and palliative care.

HC Surgical Specialists said in a Singapore Exchange filing that the acquisitions are part of the group's growth plans, and will boost its presence in Singapore.

Its shares ended at $0.67, up 1.5 cents from the previous day.