EC Healthcare expects sales volume to increase 35% Y-o-Y to no less than HK$3 billion for the Year

Apr 21, 2022 10:07 JST

Source: EC Healthcare

Medical services sales volume in Hong Kong and the overall sales volume are expected to record a no less than 25% and 15% Y-o-Y increase respectively for the second half of the Year

HONG KONG, Apr 21, 2022 - (ACN Newswire) - EC Healthcare (the "Company", which together with its subsidiaries is referred to as the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong*, is pleased to announce that the expected performance of the Group's sales volume for the Year ended 31 March 2022 (the "Year").

Benefiting from the diversified business portfolio and continuous improvement in operation efficiency, the Group's business grew steadily against market headwinds. During the 104 business days of compulsory closure, the Group was able to boost sales in the local market and in Mainland China through proactive client engagement via online channel and e-commerce campaigns; stimulate cross-selling among different medical disciplines; actively expand anti-epidemic related medical services and complete acquisitions of certain medical establishments to expand the Group's market share in healthcare market. The Group also expanded business via organic growth and M&A so as to further consolidate its leading position.

Despite the adverse economic conditions resulting from the fifth outbreak of COVID-19 with continuous travel restrictions, social distancing restrictions and the compulsory closure of all beauty parlors, the Group's business performance remains stable. The Group expects to record sales volume of no less than HK$3 billion for the Year, representing a no less than 35% Year-on-Year ("Y-o-Y") increase. The overall sales performance of the Group for the second half of Year is expected to record a no less than 15% Y-o-Y increase.

Benefiting from the strong demand on medical services and the Group's effective integration of medical assets, the sales volume of medical services offered by the Group is expected to record a no less than 55% Y-o-Y increase for the Year, despite the absence of medical tourists due to the lockdown. The sales volume of medical services in Hong Kong offered by the Group for the second half of Year is expected to record a no less than 25% Y-o-Y increase.

Mainland China authorities have been tightening the regulation of the medical aesthetic market. Leveraging the Group's leading position and strong brand strength in the medical aesthetic market, the Group was able to further consolidate the market. The Group's sales volume in Mainland China is expected to record a no less than 18% Y-o-Y increase for the Year, and a no less than 8% Y-o-Y increase for the second half of the Year.

Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of EC Healthcare said, "Looking ahead, the Group is optimistic about its business performance, which is expected to benefit from the government electronic consumption voucher scheme and the prevalence and increasing demand for anti-epidemic medical services. The Group will also benefit from the strong demand after the business reopening under the easing of COVID-19 prevention measures on 21 April 2022 by the Hong Kong Government. The Group will continue to fully support and cooperate with the Hong Kong Government's anti-epidemic policy, also implement new strategies to seize opportunities and expand the scope of healthcare services, continue to develop its businesses through organic growth and mergers & acquisitions, with particular focus on information technology, branding and service so as to increase the Group's market share."

About EC Healthcare
EC Healthcare is Hong Kong's largest non-hospital medical service provider*, leveraging its core businesses of preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multi-disciplinary medical services. The move, which is supported by the Group's high-end branding and quality customer services, is aimed at offering customers safe and effective healthcare and medical services with professionalism. The Group is a constituent stock of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index.

The Group principally engages in the provision of one-stop medical and health care services in Greater China. The Group provides a full range of services and products under its well-known brands, including those of its one-stop aesthetic medical solutions provider DR REBORN which has ranked first in Hong Kong by sales for Years, primary care clinics jointly established with Tencent Doctorwork, chiropractic services centre SPINE Central, New York Spine and Physiotherapy Center NYMG, health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, a comprehensive dental centre UMH DENTAL CARE, a diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic SPECIALISTS CENTRAL and NEW MEDICAL CENTER, obstetrics and gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, specialists central, a paediatric center PRIME CARE, cardiology center HONG KONG INTERNATIONAL CARDIOLOGY CENTER, PathLab Medical Laboratories, a professional hair care center HAIR FOREST, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.

*According to independent research conducted by Frost and Sullivan in terms of revenue in 2019 and 2020

For further information, please contact:
iPR Ogilvy Limited
Callis Lau / Lorraine Luk / Charmaine Ip
Tel: (852) 2136 6952 / 2169 0467 / 3920 7649
Fax: (852) 3170 6606
Email: ech@iprogilvy.com

Sectors: BioTech, Healthcare & Pharm