HC Surgical Specialists

HC Surgical expands GP headcount by acquiring 25% stake in The Ming Clinic operator

SINGAPORE (May 31): HC Surgical Specialists, the Catalist-listed medical services provider, is acquiring a 25% stake in Medistar Services for $480,000 from three general practitioners (GPs), namely: Tan Hooi Wa, Roger Pang Heng Mun and Wong Yik Mun.

HC Surgical’s own GP, Lai Junxu, is also acquiring an additional 5% of share capital in Medistar.

Medistar operates a GP clinic, The Ming Clinic, at Camden Medical Centre.

HC Surgical Specialists reports 22.3% rise in 2Q revenue on higher subsidiary contributions

SINGAPORE (Jan 8): Catalist-listed HC Surgical Specialists, the medical provider of endoscopic procedures and general surgery services with 16 clinics in Singapore, reported 2Q19 earnings rose 1.6% to $1.29 million, or 0.86 cents per share, from $1.27 million a year ago.

Revenue rose 22.3% to $4.63 million from a year ago, mainly due to higher contributions from new and existing subsidiaries.

Medinex opens 14% higher than IPO price on trading debut

SINGAPORE (Dec 7): Shares in Medinex opened at 28.5 cents on its Friday trading debut, higher than its initial public offering (IPO) price of 25 cents each. By 10.44am, volume of shares traded was 5.2 million.

Medinex IPO fully subscribed at 25 cents each

Medinex placing out 30 million shares to raise $7.5 mil ahead of Catalist listing

SINGAPORE (Dec 1): Medinex, the provider of professional support services to medical clinics, is selling 30 million shares at $0.25 each to raise $7.5 million.

This is ahead of its listing on the Catalist board of the Singapore Exchange.

Medical support services provider Medinex seeks Catalist listing in all-placement deal

Medical support services provider Medinex seeks Catalist listing in all-placement deal

SINGAPORE (Nov 20): Medinex is seeking a listing on the Catalist board of the Singapore Exchange to raise funds for expansion and acquisitions.

Medinex is the provider of medical support services and specialises in providing professional support services to medical clinics.

It also provides pharmaceutical services, assisting clients in procuring medical and pharmaceutical products.

The IPO is an all-placement deal that will comprise new shares and vendor shares sold by existing shareholders, according to Medinex’s preliminary offer document.

HC Surgical Specialists raises stake in associate MST to 83.3%

SINGAPORE (Sept 20): HC Surgical Specialists entered into a sale and purchase agreement for the acquisition of a 50% stake in associate company Medical Services @ Tampines for $135,000.

Following the completion of the acquisition, MST has become a 83.33% subsidiary of the company.

Incorporated on March 17 2010, MST operates the only endoscopy and radiology clinic in the group that is located in the east. For the 12 months ended May, MST incurred a loss before tax of $55,000. As at May 31, MST’s net tangible liability was $78,000.

HC Surgical Specialists announces record earnings of $5.5 mil for FY18

SINGAPORE (July 20): HC Surgical Specialists’ full year earnings hit a record high of $5.5 million for FY18, driven by revenue growth on contributions from acquired subsidies and new clinics, as well as higher revenue contribution from existing subsidiaries.

For the quarter ended May, the group’s earnings surged 60.6% y-o-y to $1.5 million on 48.8% higher revenue of $4.4 million.

HC Surgical acquiring 51% stake in endoscopy and surgery for $832,000

SINGAPORE (May 7): HC Surgical Specialists is acquiring a 51% stake in Jason Lim Endoscopy and Surgery (JLES) for $832,000.

The sellers are Jason Lim Holdings and and Dr Jason Lim Wei-Min.

Of the consideration, $628,000 will be paid in cash while the remaining to be paid with 300,000 new shares at 68 cents each, a premium of 0.74% to HC Surgical’s May 4 closing price of 67.5 cents each.

HC Surgical Specialists' earnings more than double to $0.9 mil in 3Q

SINGAPORE (Apr 10): HC Surgical Specialists posted earnings of $0.90 million for the 3Q ended February, over two-and-a-half times more than earnings of $0.35 million a year ago.

Revenue surged by 75.4% to $3.9 million in 3Q18, from $2.2 million a year ago.

The increase was mainly due to the full three months revenue contributions from new subsidiaries acquired and new subsidiaries which commenced operations during the current financial year, as well as higher revenue from existing subsidiaries.

HC Surgical Specialists' 1H earnings surge to $2.5 mil on newly acquired subsidiaries

SINGAPORE (Jan 9): Medical services group HC Surgical Specialists saw its earnings surge to $2.5 million for the 1H2018 ended November, from $0.1 million a year ago.

Excluding one-off items incurred in 1H2017, including IPO expenses, interest on redeemable convertible loan and fair value gain on derivative financial instruments, HCSS would have seen earnings of $1.5 million a year ago.

The increase was on the back of an 80% growth in revenue to $7.7 million in 1H18, largely due to the capturing of the full six months contributions from new subsidiaries.

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