KUALA LUMPUR (Oct 11): LYC Healthcare Bhd has completed the acquisitions of the remaining 49% stake in Singapore specialist clinics, T&T Medical Group Pte Ltd (T&T) and HC Orthopaedic Surgery Pte Ltd (HCOS) respectively.

In a statement on Tuesday (Oct 11), LYC said the acquisitions were completed on Oct 10 via its unit YC Medicare (Singapore) Pte Ltd (LYC Medicare SG).

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, magnetic resonance imaging (MRI) and computerised tomography (CT) scan services were introduced in T&T.

LYC managing director cum group chief executive officer David Sui Diong Hoe said the completion of these acquisitions brings the company one step closer in achieving its aim to list LYC Medicare SG on the Catalist board of the Singapore Exchange (SGX).

“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.