PuraPharm Achieves Goal of Opening 30 Nong's Clinics in Hong Kong by End of 2015

Dec 28, 2015 21:14 JST

Source: PuraPharm Corporation Limited

Continues to be the Largest Traditional Chinese Medicine Clinics Chain in Hong Kong

HONG KONG, Dec 28, 2015 - (ACN Newswire) - PuraPharm Corporation Limited ("PuraPharm" or the "Group") (Stock code: 1498) a leading Hong Kong-based Chinese medicine company engaged in the research and development, production, marketing and sale of Concentrated Chinese Medicine Granule ("CCMG") products marketed under its "Nong's" brand, today announced that it has achieved its goal - as set out in its prospectus - of increasing the total number of Nong's clinics in Hong Kong to 30 by the end of 2015. The Group continues to be the largest Traditional Chinese Medicine ("TCM") clinic chain in Hong Kong.

PuraPharm Achieves Goal of Opening 30 Nong's Clinics in Hong Kong by End of 2015

In view of the huge demand and the growth potential of the TCM clinics market in Hong Kong, the Group expressed its commitment to develop its Nong's clinic business during its public offering in mid-2015 - seeking to operate 30 clinics by the end of 2015. Such clinics provide one-stop services, including medical diagnostic and dispensary services involving CCMG products. Compared to just three TCM clinics as at 30 June 2014, the number of clinics operated by the Group has been substantially increased by tenfold in approximately one and a half years, and is a testament to the Group's extreme confidence in this business.

Being one of the growth engines of the Group's business, PuraPharm has expedited the expansion of the Nong's clinics business in recent years, aiming to further enhance its brand recognition in Hong Kong. The rapid expansion of the clinics operation underscores the large demand for Chinese medicine, as well as CCMGs' increasing popularity in Hong Kong. In choosing locations for the clinics, PuraPharm placed priority on high population density, shortage of modernized Chinese medicine clinics, and reasonable rental rates. The clinics are strategically located in shopping malls or in the neighborhood of housing estates and offices, bringing ideal return both to the Group and to its registered TCM practitioner partners.

Mr. Chan Yu Ling, Abraham, Founder, Chairman, Chief Executive Officer and Executive Director of PuraPharm, said, "We are delighted to achieve the goal of opening 30 Nong's clinics by end of the year. This not only marks another milestone for the Group's business development, but also consolidates PuraPharm's leading position as the largest TCM clinic chain in Hong Kong. Moreover, it further enhances our competitive advantages within the CCMG product market in Hong Kong and China. Looking ahead, we will continue to develop the Nong's clinics business and strengthen our leading position in the CCMG market in Hong Kong."

List of PuraPharm Nong's clinics:
http://www.purapharm.com/nongs-clinics/clinics-location/list/

Contact:

Strategic Financial Relations Limited
Heidi So     +852 2864 4826  heidi.so@sprg.com.hk
Joanne Lam   +852 2864 4816  joanne.lam@sprg.com.hk
Fanny Yuen   +852 2864 4853  fanny.yuen@sprg.com.hk
www.sprg.com.hk

Source: PuraPharm Corporation Limited
Sectors: Daily News