HC Surgical Specialists Limited Acquires 51% of Chirurgia Pte. Ltd., Marking Strategic Expansion into Hepatopancreatobiliary Surgery

Key Highlights

• HC Surgical Specialists Limited (HCSS) acquires a 51% stake in Chirurgia Pte. Ltd. for S\$1,228,000.
• Dr. Lee Lip Seng, an established specialist in hepatopancreatobiliary (HPB) surgery with over 20 years of experience, joins the HCSS Group.
• Dr. Lee will manage Chirurgia for at least 10 years, strengthening the Group’s clinical leadership and enhancing service offerings.
• HCSS plans to acquire the remaining 49% stake in Chirurgia at a later date.

Comprehensive Details of the Acquisition

HC Surgical Specialists Limited (“HCSS” or the “Company”), a leading Catalist-listed medical group in Singapore, has announced the strategic acquisition of 51% of the total issued and paid-up share capital of Chirurgia Pte. Ltd. for a total consideration of S\$1,228,000. The transaction, completed with Dr. Lee Lip Seng, will be funded entirely by internal resources, reflecting the Company’s robust financial standing.

About Chirurgia and Strategic Fit

Incorporated in July 2022, Chirurgia operates out of LS Lee Surgery at Mount Elizabeth Novena Hospital. The company specializes in minimally invasive surgical procedures and the treatment of gallbladder diseases. This acquisition brings immediate synergy with HCSS’s current focus on general surgery and endoscopy services, and supports the Company’s ongoing strategy to broaden the spectrum of advanced medical services provided to patients.

Profile of Dr. Lee Lip Seng

Dr. Lee is a highly experienced hepatopancreatobiliary (HPB) surgeon, focused on minimally invasive laparoscopic and robotic procedures for liver, pancreatic, biliary, and gallbladder diseases and cancers. He holds a medical degree from the Royal College of Surgeons in Ireland (2005), completed specialist surgical training at both Changi General Hospital and Singapore General Hospital (2013), and undertook fellowship training in Korea (2015). Dr. Lee previously served as Director of HPB Service at Changi General Hospital before transitioning to private practice. His appointment marks HCSS’s first foray into HPB surgery, expanding its clinical capabilities and market presence.

Management Commitment and Future Plans

As part of the agreement, Dr. Lee will be committed to managing Chirurgia for a minimum of 10 years, ensuring continuity and leveraging his expertise for the Group’s growth. HCSS has also indicated its intention to acquire the remaining 49% stake in Chirurgia at a later stage. Such a phased approach allows HCSS to fully integrate Chirurgia’s services and aligns with the Group’s long-term expansion strategy.

Impact on Shareholders and Potential Price Sensitivity

• Expansion into HPB surgery represents a significant broadening of HCSS’s service portfolio, likely to enhance its competitive position in Singapore’s private healthcare market.
• The onboarding of Dr. Lee and the planned future acquisition of the remaining stake in Chirurgia signal continued growth and investment in specialist-driven medical services.
• The acquisition is funded by internal resources, indicating a healthy balance sheet and disciplined capital management.
• If successfully executed, these developments could positively influence future earnings and shareholder value.

About HC Surgical Specialists Limited

Established in 2015 and listed on the Singapore Exchange’s Catalist board in November 2016, HCSS is a medical services group specializing in endoscopic procedures (gastroscopies and colonoscopies) and general surgery, with an emphasis on colorectal procedures. The Group operates through a network of 18 clinics across Singapore, positioning it as one of the leading providers in the local healthcare sector.

Contact Information

For investor relations, please contact: [email protected]

Disclaimer: This article is for informational purposes only and does not constitute investment advice. The content is based on a press release reviewed by HCSS’s sponsor but not examined or approved by the Singapore Exchange Securities Trading Limited (SGX). The Exchange assumes no responsibility for the contents of this announcement. Investors should exercise their own judgment and seek professional advice before making any investment decisions.

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