Temasek unit invests $5m in HC Surgical Specialists

It will be done through a 3-year 5.5% convertible bond at a conversion price of $0.54 per share.

Heliconia, a subsidiary of Temasek providing growth capital for Singapore’s small and medium-sized enterprises, has invested $5m in medical services group HC Surgical Specialists (HCSS).

The investment will be done through a three-year 5.5% convertible bond at a conversion price of $0.54 per share. Heliconia will also receive a three-year option to subscribe for up to $5m of new ordinary shares in HCSS for an exercise price of $0.62/share.

Founded in 2016, HCSS currently has 16 clinics in Singapore and serves as the exclusive provider of colorectal cancer screening for eligible clients of the life insurance firm AIA Singapore.

HCSS CEO Heah Sieu Min said that the company will use funds for services to clients in Singapore and overseas markets.