PETALING JAYA: LYC Healthcare Bhd, via its wholly owned subsidiary, LYC Medicare (Singapore) Pte Ltd yesterday completed the acquisitions of the remaining 49% stake in Singapore specialist clinics, T&T Medical Group Pte Ltd and HC Orthopaedic Surgery Pte Ltd (HCOS) respectively.
The group had initially acquired a 51% stake in T&T and HCOS in late 2020 to enhance its healthcare service offerings and expand its market presence in the Singapore healthcare sector. T&T and HCOS provide general and specialised medical services particularly in the chronic disease and osteoporosis segments.
Since the initial acquisition, a new orthopaedic clinic by HCOS was established in Parkway East Hospital. This brings the total number of clinic under HCOS to two, including one located in Mount Elizabeth Hospital. In addition, a Magnetic Resonance Imaging and Computerised Tomography scan services were introduced in T&T, building up its position as a one-stop chronic diseases centre.
LYC managing director cum group CEO David Sui Diong Hoe said the completion of these acquisitions brings it one step closer in achieving its aim to list LYC Medicare SG on the Catalist board of the Singapore Exchange.
“Preparation work with our advisors is progressing well and we hope to complete the listing exercise early next year.
“Leveraging on T&T’s and HCOS’s expertise and experience in the medical field, we believe we can attract more customers by enlarging our business presence across new locations, improving our facilities and generating more referrals from hospitals and other doctors,” he said in a statement today.