HC Surgical Hikes Up Stake In Julian Ong Endoscopy & Surgery
- HC Surgical to acquire an additional 19% stake in Julian Ong Endoscopy & Surgery Pte. Ltd. for S$3.8 million
- Total consideration to be funded via issuance of 1,760,000 new shares at S$0.5388/share and approximately S$2.8 million in cash
- With this acquisition, it will boost the Group’s stake in Julian Ong Endoscopy & Surgery to 70% and fortify the Group’s relationship with the talented specialist Dr. Julian Ong
HC Surgical Specialists Limited (SGX:1B1) is delighted to declare that it has today, entered into a sale and purchase agreement with Julian Ong Surgery Pte. Ltd. (the “Vendor”) for an additional 19% of the total issued and paid-up share capital of the Company’s subsidiary, Julian Ong Endoscopy & Surgery Pte. Ltd. (“JOES”) (the “Proposed Acquisition”).
Chief Executive Officer of HCSS, Dr. Heah Sieu Min said, “Dr. Ong is a talented specialist who has proven to be very popular with patients. We are excited to be part of his growth journey as we fortify our relationship with Dr. Ong through this acquisition. We will continue to execute on our corporate strategy in looking out for young talented specialists like Dr. Ong, providing them with the necessary support and platform for growth.”