HC Surgical says put option on Julian Ong's endoscopy clinic safeguards its interest

Singapore

HC Surgical Specialists (HCSS) said it would get back more than what it paid if it were to sell back to surgeon Julian Ong its stake in his private practice that it had bought from him.

The Catalist-listed healthcare group has a put option that requires Dr Ong to repurchase the 70 per cent interest in his endoscopy clinic, Julian Ong Endoscopy & Surgery (JOES). Were it to exercise the put option, the minimum consideration HCSS receives will be more than what it had forked out in total to acquire the stake, the company said on Monday.