HC Surgical expands to Cambodia with new 3-year deal

HC SURGICAL Specialists has signed an exclusive three-year agreement to provide consultancy and medical services for The Prestige Hospital in Cambodia, marking its foray into the South-east Asian country.

The Catalist-listed firm on Monday evening said it was appointed as the consultancy service provider for the setting up of an endoscopy centre within the hospital, and will also provide certain exclusive medical services in the hospital.

This will create an additional revenue stream for the group, and is aligned with its long-term plans for regional expansion, HC Surgical said in its bourse filing.

The Prestige Hospital offers services for families with a specialisation in women's and children's health. It also has partnerships with global hospital providers and provides patients with access to specialised treatments in Singapore, Thailand and Cambodia.

The three-year period for the exclusive agreement will start when the new endoscopy centre is operational, which is estimated to be on March 1.

The deal 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, 2020.

"We are on track with our expansion plans and will continue to keep a lookout for other potential synergistic collaborations locally and regionally," said HC Surgical chief executive officer Heah Sieu Min.

Shares of the company closed up S$0.015 or 2.9 per cent to S$0.54 on Monday, before the announcement.