SINGAPORE - Catalist-listed medical services group HC Surgical Specialists has been appointed the exclusive provider of colorectal cancer screening for eligible insured clients of AIA Singapore from April 1, 2019.
HC Surgical said that the exclusive appointment is expected to generate additional recurring revenue stream for the group.
The service is part of AIA Singapore's early detection screening benefit, under its new product features for eligible policyholders - age 50 and above - of HealthShield Gold Max Essential A Saver and AIA Max VitalHealth A, the company said in a bourse filing on Monday (April 1) morning before the market opened.
Through the appointment, HC Surgical aims to reduce the number of colorectal cancer cases. Its chief executive officer Heah Sieu Min said the company looks forward to providing the service at its endoscopy centres in the central and heartland areas of Singapore.
"It has been established that colorectal cancers may be prevented through colonoscopic excision of asymptomatic benign polyps, which prolongs life and lowers health costs," Dr Heah added.
Alan Ong, medical director of AIA Singapore, added: "AIA Singapore's exclusive partnership with HCSS (HC Surgical Specialists) is in line with national efforts to promote screening for early detection and intervention; and it further strengthens our comprehensive healthcare proposition to help people in Singapore live healthier, longer and better lives."
HC Surgical has named Novus Corporate Finance as its corporate finance adviser for this appointment.
The group added that the appointment is not expected to have any material impact on the consolidated earnings per share or net tangible assets per share of the group for the current financial year ending May 31, 2019.
Shares of the company last traded at $0.585 apiece on March 27.