HC Surgical and Medistar set up subsidiary for new endoscopy centre

CATALIST-LISTED HC Surgical Specialists said on Thursday that it has partnered Medistar Services Pte Ltd to incorporate a medical services subsidiary, HC Ming, with each holding an 80 per cent and 20 per cent stake respectively.

HC Surgical's stake in HC Ming will increase to 85 per cent upon completion of its S$480,000 acquisition of a 25 per cent stake in Medistar, a general practitioner (GP) clinic, that it announced at end May.

HC Ming will be setting up an endoscopy centre within The Ming Clinic - a GP clinic operated by Medistar. The move brings HC Surgical's network of endoscopy centres to 10.

HC Surgical chief executive Heah Sieu Min said the new endoscopy clinic allows the group to tap on the The Ming Clinic's ready pool of patients. The clinic, located within Camden Medical Centre and housing over 150 doctors, may also provide a vast pool of patient referrals for the group, he added.

"Through our strategic incorporation of HC Ming, we look forward to providing a wider range of quality medical services with more options made available to all in the heart of Singapore," Dr Heah added.

HC Ming has a total issued and paid-up capital of S$10.

HC Surgical shares were trading flat at S$0.56 on Thursday as at 3.38pm.