HC Surgical Specialists announced on Thursday that it has entered into a framework agreement with Prudential Assurance Company to provide "high-quality and cost-efficient health services" for certain eligible insured customers.

Further details on the benefits available to these customers of Prudential will be announced in due course, said the Catalist-listed firm in a bourse filing.

The agreement takes effect on Oct 8 and will last for at least two years.

When the minimum term expires, the agreement will be automatically extended for another two years until Oct 8, 2024, unless terminated in accordance with the terms of the agreement.

The parties may renew the agreement on the same terms or mutually agreed-upon terms before the agreement expires.

The move is not expected to have a material impact on the consolidated earnings per share or net tangible assets per share of the group for the current financial year ending May 31, 2021.

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Save for their interests in the company, none of the directors or controlling shareholders of the company has any direct or indirect interest in the agreement.

Shares of HC Surgical Specialist closed flat on Thursday at S$0.30.