HC Surgical buys 65% stake in Total Orthopaedics for $21.4m

The group will pay cash over seven years via internal funds and bank loans.

HC Surgical Specialists Limited has acquired the remaining 65% stake in Total Orthopaedics Pte Ltd (TOPL) for $21.41m.

HC Surgical entered into the sale and purchase agreement with TOPL surgeons Dr Benjamin Seah Renyi, Dr Huang Yilun, and Dr Hamid Rahmatullah Bin Abd Razak, and completed the acquisition on 20 October, it said in a press release.

The Catalist-listed group will pay the sum in cash over seven years, funded through internal resources and bank borrowings.

Based on audited accounts, TOPL posted a profit before tax of about $2.56m and a profit after tax of about $2.22m for the 12 months ended 31 May 2026.

HC Surgical first invested in TOPL in 2023. Dr Seah joined the group on 1 June that year, followed by Dr Huang and Dr Hamid Razak on 2 April 2024, according to CEO Dr Heah Sieu Min.

TOPL has since expanded to four orthopaedic centres at Novena Medical Centre, Shaw House, Tampines, and Gleneagles Hospital, the group added.

Incorporated in 2015, HC Surgical mainly provides endoscopic procedures, including gastroscopies and colonoscopies, as well as general surgery services with a focus on colorectal procedures.

It currently operates a network of 20 clinics across Singapore.

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