HC Surgical Specialists has acquired a 51 per cent stake in Julian Ong Endoscopy & Surgery for S$2.175 million while Keppel Corporation as subscribed for 107.2 million notes with 964.9 million warrants under KrisEnergy.
HC Surgical Specialists picks 51% in Julian Ong Endoscopy & Surgery
JOES, incorporated in 2017, is 90 per cent owned by Julian Ong Surgery while the remaining 10 per cent is owned by Dr. Julian Ong.
JOES will establish and operate a new endoscopy clinic at Mount Elizabeth Novena Hospital with Dr. Ong being employed as a specialist surgeon.
Dr. Ong will be paid S$1.75 million in cash and receive one million new shares in HC Surgical at an issue price of 60.59 cents each. Julian Ong Surgery will also be paid S$1.394 million in cash.
In a filing to the Singapore Exchange, HC Surgical said, the acquisition was in line with the company’s plan for growth and its expansion into Singapore.
Keppel subsidiary subscribes for 107.2m KrisEnergy notes
The news follows a December 9 announcement of its provision of an irrevocable undertaking to KrisEnergy.