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First Foray into Macau Dental Market
Strengthen Chronic Disease Management Business
Further Fortify Leadership in GBA Discretionary Medical Market |
HONG KONG, Feb 16, 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 enters into a sales and purchase agreement to acquire entire issued share capital of Excellent Power Investments Limited (the "Target Company") for a total consideration of HK$68 million in cash.
The Target Company owns Health & Care Dental Services Limited, Health & Care Dental Clinic Limited, Health & Care (Macau) Dental Group Limited, Qualigenics Medical Limited, AmMed Cancer Center (Central) Limited and Humphrey & Partners Medical Services Management Limited and has a long-standing history in providing comprehensive healthcare services in Hong Kong and Macau since 2000. The medical services that the Target Company provide within its 12 clinics including dental services, chronic disease management services, specialty services, imaging and diagnostic services. It also administrates a comprehensive medical network of over 250 affiliated clinics providing general practitioners, specialists and physiotherapy services. According to the unaudited consolidated financial information for financial year ended 31 March 2021, the revenue and profit after tax of the Target Company amounted to HK$130.49 million and HK$10.12 million, respectively.
Leveraging on the Target Company's business layout in Hong Kong and Macau and specially its expertise in dental field, the Group will gain its first foothold in the professional dental services of Macau, and further strengthen its medical expertise in chronic disease management. This acquisition complements the Groups' strategy of consolidating its leadership in discretionary medical market in the Greater Bay Area. Upon completion of the acquisition, the Group will have 12 additional medical centers also further enlarge its fulltime registered doctors and network doctors team.
Ms. Ada Wong, Executive Director and Chief Strategy Officer and Chief Investment Officer of EC Healthcare said, "The Group is delighted to expand its medical services in Macau, which will further enhance our market share and leading position in the dental and chronic disease management market in the Greater Bay Area. Looking ahead, the Group will be well-positioned to continue exploiting the reciprocal business interaction among our diverse medical specialty disciplines to create more value and further develop its enclosed healthcare ecosystem."
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 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
Topic: Press release summary
Source: EC Healthcare
Sectors: BioTech, Healthcare & Pharm
http://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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