SINGAPORE (May 31): HC Surgical Specialists, the Catalist-listed medical services provider, is acquiring a 25% stake in Medistar Services for $480,000 from three general practitioners (GPs), namely: Tan Hooi Wa, Roger Pang Heng Mun and Wong Yik Mun.
HC Surgical’s own GP, Lai Junxu, is also acquiring an additional 5% of share capital in Medistar.
Medistar operates a GP clinic, The Ming Clinic, at Camden Medical Centre.
Tan is an internist at the clinic, while both Pang and Wong are approved oil & gas UK and compressed air work medical examiners. Pang is also an approved medical examiner of divers.
All three GPs and owners of Medistar each come with more than 40 years of experience in primary health maintenance. Post the acquisition, they will remain as shareholders of Medistar with a total equity interest of 70%.
In a press release on Friday, HC Surgical says the addition of Tan, Pang and Wong will strengthen its capabilities.
This is in line with HC Surgical’s plan for growth and expanding its presence in Singapore, as the group, as team of GPs will increase from five to eight.
“Dr. Tan, Dr. Pang and Dr. Wong are industry veterans with a stable pool of patients, and we are very excited for them to join our HCSS family,” comments HC Surgical’s CEO, Heah Sieu Min.
“The strategic location of The Ming Clinic, which is in near proximity to Singapore’s prime residential districts and the neighborhood of private hospitals such as Gleneagles and Mount Elizabeth Hospital, will further expand our GP network to the heart of Singapore,” he adds.
Shares in HC Surgical last traded flat at 56 cents before the midday trading break.
