HC Surgical should immediately exercise put option on Julian Ong's practice

THE board of HC Surgical Specialists last week provided responses to a series of questions from the Singapore Exchange that cast interesting light on the quandary the company faces in relation to the allegations that one of its specialists, Julian Ong, colluded with a psychiatrist named Chan Herng Nieng to take advantage of vulnerable female patients.

In particular, the responses raise questions about whether the board's continued support of Dr Ong serves the interests of the company's shareholders. If the company acts quickly, it might be able to salvage at least some of its investment in his practice.

Dr Ong was thrust into the spotlight earlier this month after a defamation suit he had brought against a woman named Serene Tiong, who had made the accusations against him and Dr Chan, was dismissed with costs on the grounds that her claims were substantially true. Ms Tiong had gained access to Dr Chan's phone in April 2018 while she was in a relationship with him, and obtained a number of appalling WhatsApp messages between the two doctors that provided evidence of their alleged illicit activities.