HC Surgical (SGX:1B1
) announced that it has entered into a sale and purchase agreement with Dr Ng Yi Kang on the acquisition of 51% stake of NYK Endoscopy and Digestive Centre Pte Ltd (NYKPL) for a total purchase consideration of S$750,000.
NYKPL was incorporated on June 2 and has yet to commence operations. According to HC Surgical, NYKPL’s principal activity will be providing endoscopic procedures.
Meanwhile, HC Surgical has entered into an employment agreement with Dr Ng Yi Kang as a specialist physician, where he will manage NYKPL for a minimum period of 11 years, commencing on or around July 1.
“Having worked in public hospitals for more than 15 years, he is experienced in the management of a wide spectrum of digestive and liver conditions, with a practice focused on evidence-based and patient-centred care,” HC Surgical adds.
“We are delighted to welcome Dr. Ng to the Group, as we continue on our expansion in the endoscopic field, to serve the needs of our patients in view of the ageing population in Singapore,” says Dr Heah Sieu Min, CEO of HC Surgical.
“I am excited to join HC Surgical Specialists and look forward to contributing to the Group’s commitment towards delivering high-quality, evidence-based and patient-centred care in gastroenterology and digestive health,” Dr Ng shares.
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The total purchase consideration of $750,000 will be financed through internal resources and/or bank borrowings. HC Surgical intends to enter into a separate sale and purchase agreement to buy the remaining 49% of NYKPL at a later stage.
Shares of HC Surgical closed unchanged at 36.5 cents on June 8.
