ENGLISH
|
JAPANESE
|
CONNECT WITH US:
Home
About
Contact
Log in
*
Home
Press release
Oct 03, 2022 11:08 JST
Source:
EC Healthcare
EC Healthcare Acquires Multi-Disciplinary Healthcare Services Chain in Hong Kong
Deepen the Group's Medical Services Layout
Further Increase the Market Share in Healthcare Market
HONG KONG, Oct 03, 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 Group and the Seller enters into a sale and purchase agreement to acquire 60% of the issued share capital of Pioneer Evolution Limited (the "Target Company") for a total consideration of HK$36.4 million in cash.
The Target Company is a controlling holding company of a medical service provider which has a long-standing history in providing multi-disciplinary healthcare services in Hong Kong since 2002 and operates 9 medical centers under the business name of Sure-Care Medical and Health Network. Sure-Care Medical and Health Network has an extensive geographic coverage over Kowloon, New Territories and HK Island, including Mong Kok, Tai Po, Causeway Bay, Tsuen Wan and Jordan. Sure-Care Medical and Health Network also has a professional medical team of over 23 registered medical practitioners and covering 8 medical specialties and general medical services. According to the unaudited consolidated financial information, the profit after tax of the Target Company was approximately HK$5.9 million for the six months ended 30 June 2022 and HK$12.1 million for the year ended 31 December 2021. Upon completion of the acquisition, the financial results of the Target Company will be consolidated into the consolidated financial statements of the Group. The Seller guarantees to the Group with an accumulated net profit for the five years ending 31 December 2027 should be no less than HK$70 million.
The acquisition of the multi-disciplinary healthcare services is expected to deepen the Group's medical services layout and enable the Group to further increase its market share in the healthcare market. Upon the completion of the acquisition, the Group's full time registered doctor team will be expanded and the Group's medical services capability will be further strengthened in Hong Kong, particularly in New Territory East and expected to create cross referral to increase market share. Leveraging on the Group's operational excellence and efficiencies, the Group will empower Sure-Care Medical and Health Network to improve its asset value through corporatization.
Mr. Levin Lee, Executive Director and Chief Finance Officer of EC Healthcare, said, "EC Healthcare is always committed to building up an enclosed ecosystem to provide premium services to the client by leveraging multiple brands and disciplines. The acquisition is aligned with the Group's expansion strategy and will further consolidate the Group's leading market position in Hong Kong's healthcare market, maximizing overall shareholders' return. EC Healthcare will continue to be the leading market consolidator and develop its businesses through organic growth and mergers and acquisitions and strive to be the Asia leading healthcare services provider."
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, a professional hair care center HAIR FOREST, primary care clinics jointly established with health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, General outpatient clinic Tencent Doctorwork, the largest one-stop pain management centre in Hong Kong New York Medical Group, the comprehensive dental centres Bayley & Jackson Dental Surgeons, EC DENTAL CARE and Health and Care Dental Clinic, an advanced diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic PREMIER MEDICAL CENTRE, SPECIALISTS CENTRAL and NEW MEDICAL CENTER, a paediatric centre PRIME CARE, a gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, PathLab Medical Laboratories, 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 2020 and 2021
For further information, please contact:
iPR Ogilvy Limited
Callis Lau / Lorraine Luk / Tim Tin / Sophia Wu
Tel: (852) 2136 6952 / 2169 0467 / 3920 7654 / 3920 7645
Fax: (852) 3170 6606
Email:
ech@iprogilvy.com
Source: EC Healthcare
Sectors: Healthcare & Pharm
Copyright ©2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
Latest Release
DOCOMO and NTT Com Jointly Demonstrate Practicality of DOCOMO's New Multi-platform Cloud-rendering Technology
Jul 26, 2024 17:05 JST
TANAKA Precious Metals Provided Award Items and Ceremony Souvenirs for the International Friendly Matches of the Japan Men's National Blind Football Team at the "DAICEL Blind Football Japan Cup 2024 in Osaka" on July 7
Jul 26, 2024 03:00 JST
Eisai and EcoNaviSta Enter into Business Alliance Agreement Aimed at Building a Dementia Ecosystem and Commence Collaboration
Jul 25, 2024 10:30 JST
Hitachi Awarded Largest Contract in Singapore to Supply 450 Lifts at HDB Blocks
Jul 24, 2024 16:27 JST
Hitachi to Announce Capital Reorganization of Air Conditioning Joint Venture
Jul 24, 2024 15:02 JST
Eisai to Present Dual-Acting Lecanemab Three-Year Efficacy and Safety Data and Discuss Long-Term Outcomes of Continued Treatment at the Alzheimer's Association International Conference 2024
Jul 23, 2024 20:23 JST
Toyota Material Handling Japan and Fujitsu launch Japan's first service for evaluating forklift safety in the cloud using AI
Jul 23, 2024 11:26 JST
AEON and CJPT working to resolve logistics industry issues and achieve carbon neutrality at AEON Fukuoka XD
Jul 22, 2024 13:52 JST
Rovanpera and Ogier score another TOYOTA GAZOO Racing one-two
Jul 22, 2024 12:30 JST
Team HRC with Japan Post Wins 45th Suzuka 8 Hours Endurance Road Race
Jul 22, 2024 11:33 JST
Honda to Hold its Official e-Motorsports Event, "Honda Racing eMS 2024"
Jul 19, 2024 20:04 JST
MHI America Acquires Three Utility-Scale Solar Power Projects in Pennsylvania, Advancing the Company's Energy Transition Strategy
Jul 19, 2024 19:04 JST
JCB and Worldline unveil a new whitepaper offering European merchants invaluable insights into facilitating seamless payments for international consumers
Jul 19, 2024 12:00 JST
Fujitsu Chosen to Help Solving Social Issues Caused by Fake News
Jul 19, 2024 11:30 JST
Champion REIT holds first 'ESG Week'
Jul 18, 2024 20:14 JST
Lexus LBX Adds a New High Performance Variant, the LBX "MORIZO RR"
Jul 18, 2024 17:25 JST
VitalLife and Bumrungrad International Hospital in Thailand Launch NEC's FonesVisuas Test: First Major Deployment Outside Japan, Revolutionizing Disease Risk Prediction
Jul 18, 2024 15:34 JST
Fujitsu publishes CHRO Roundtable Report 2024, summarizing the challenges and implications of the implementation of data-driven human capital management
Jul 18, 2024 10:44 JST
Fujitsu-sponsored professional golfer Ayaka Furue victorious in the Amundi Evian Championship
Jul 16, 2024 23:26 JST
Neste and Mitsubishi Corporation agree on strategic partnership to develop supply chains for renewable chemicals and plastics
Jul 16, 2024 18:36 JST
More Latest Release >>
Related Release
Kerry Logistics Network Teams Up with EC Healthcare to Provide a Full Suite of Integrated Medical Logistics Management Services
November 27 2023 11:15 JST
EC Healthcare Received "Institutional Investor" 2023 Multiple Awards in All-Asia Executive Team Rankings
June 21 2023 18:50 JST
EC Healthcare Signs Sustainability-Linked Syndicated Facility, A Ground-breaking Achievement in Hong Kong Healthcare Industry
May 10 2023 11:52 JST
Leading Aesthetic Medical Devices and Consumables Distributor in Hong Kong Consolidating Quality Resources and Leading the Industry to Stay Ahead
April 03 2023 20:39 JST
EC Healthcare Collaborates with New Horizon Health to form Strategic Partnership To Jointly Launch CerviClear in Hong Kong
March 24 2023 17:21 JST
EC Healthcare Opened the First Organic Flagship Veterinary Hospital in Hong Kong
March 06 2023 15:50 JST
EC Healthcare Announced Strategic Alliance with Prudential
February 13 2023 19:09 JST
EC Healthcare Expects Third Quarter FY23 Sales Volume to Increase no less than 8% YoY
January 20 2023 19:31 JST
EC Healthcare wins "Best in Healthcare Sector" at IR Magazine's Greater China Awards 2022
December 14 2022 21:38 JST
EC Healthcare Announces FY2022/23 Interim Results, Revenue Increased 31.1% YoY Mainly Driven by Medical Services
November 24 2022 13:02 JST
More Press release >>