HC Surgical acquires remaining 65% of Total Orthopaedics for S$21.41 million
The cash payment will be spread over seven years, using internal resources and bank borrowings.
HC Surgical Specialists Limited said it completed the purchase of Total Orthopaedics Pte Ltd’s remaining 65% stake on 20 October for S$21.41 million. The sellers were TOPL surgeons Dr Benjamin Seah Renyi, Dr Huang Yilun and Dr Hamid Rahmatullah Bin Abd Razak.
The Catalist-listed company said it would use its own resources alongside bank loans to fund the acquisition, with cash payments extending over seven years. TOPL’s audited accounts showed approximately S$2.56 million in pre-tax profit and S$2.22 million in after-tax profit for the year ended 31 May 2026.
The group’s initial investment in TOPL was in 2023. Chief executive Dr Heah Sieu Min said Dr Seah joined on 1 June 2023, while Dr Huang and Dr Hamid Razak joined on 2 April 2024. According to the group, TOPL has grown to four orthopaedic centres, located at Gleneagles Hospital, Tampines, Shaw House and Novena Medical Centre.
Incorporated in 2015, HC Surgical operates 20 clinics in Singapore. Its main services include gastroscopies, colonoscopies and general surgery, with an emphasis on colorectal procedures.
