HC Surgical Specialists and Medinex have each acquired a 20% stake in Healthcare Essentials (HEPL) today.
HEPL is a Singapore-based company specialising in the retail sales of pharmaceutical and medical goods and provision of management consultancy services.
HC Surgical’s transaction comes after it signed a memorandum of understanding (MoU) with HEPL in October.
Under the MoU, the transaction was supposed to be carried out via the subscription of new shares in HEPL.
SEE:HC Surgical wins $5 mil investment from Temasek's Heliconia
However, HC Surgical has acquired the 20% stake from non-executive non-independent director Lim Chye Lai, Gjan, who is HEPL’s sole shareholder.
“In the course of negotiations, it was agreed that the Company would acquire existing shares from Lim,” says the company in a Dec 23 filing.
Lim also sold another 20% stake in HEPL to Medinex, which is an associate company of HC Surgical.
HC Surgical ended flat at 39.5 cents with 9,100 shares exchanged hands on Dec 23.
Medinex was last traded at 21 cents on Dec 22.