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HC Surgical Specialists, a Catalist-listed medical services group, on Wednesday announced its proposed acquisition of Julian Ong Endoscopy & Surgery (JOES), a Singapore-based endoscopy clinic.
HC Surgical Specialists will acquire 51 per cent of JOES for S$2.175 million.
JOES, incorporated on Jan 3, has yet to commence operations. JOES is 90 per cent owned by Julian Ong Surgery, and 10 per cent owned by surgeon Julian Ong. The latter fully owns Julian Ong Surgery.
HC Surgical Specialists said the acquisition is in line with the company's plan for growth, and will expand its presence in Singapore. It added: "The addition of Dr Julian Ong to the group's number of experienced practitioners will also strengthen the group's capabilities."
Post acquisition, JOES will be a subsidiary of the group, and will establish and operate a new endoscopy clinic at Mount Elizabeth Novena Hospital. Dr Ong will be employed as a specialist surgeon with oversight over JOES.