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LYC buys 51% in Singapore medical centre

TheStar Fri, May 29, 2020 10:20am - 4 months ago


In a filing with Bursa Malaysia, LYC Healthcare said upon completion of the exercise, expected by the fourth quarter of 2020, HCOS would become a 51%-owned subsidiary of LYC Healthcare.

PETALING JAYA: LYC Healthcare Bhd’s wholly owned subsidiary, LYC Medicare Sdn Bhd, has proposed to acquire a 51% stake in HC Orthopaedic Surgery Pte Ltd (HCOS) from Chan Ying Ho and Beyond Wellness Group Pte Ltd for RM21.29mil.

In a filing with Bursa Malaysia, LYC Healthcare said upon completion of the exercise, expected by the fourth quarter of 2020, HCOS would become a 51%-owned subsidiary of LYC Healthcare.

HCOS is principally involved in the provision of clinics and other general medical services, as well as specialised medical services, including day surgical centres.

HCOS, which leases and operates one medical centre located in Singapore, primarily serves patients requiring various orthopaedic specialist treatments, including surgeries.

LYC Healthcare said the acquisition would provide the group with an opportunity to expand its geographical reach outside of Malaysia. — Bernama

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