EC Healthcare Acquires Specialized Medical Service Centers in Hong Kong, Economic News

HONG KONG, November 8, 2021 – (ACN Newswire) – EC Healthcare (the “Company”, which together with its subsidiaries is referred to as the “Group”, stock code SEHK: 2138), the largest non-hospital medical group in Hong Kong *, is pleased to announce that the Group has entered into a sale and purchase agreement to acquire 70% of the issued share capital of Premier Medical Group (BVI) Limited (the “Target Company”), for a total amount of HK $ 100. millions in cash.

The target company has a long history of providing medical services in Hong Kong. As of the date of this announcement, the target company operates 5 medical centers in Hong Kong, offering a wide range of medical services covering 18 specialist disciplines and other related health services, with more than 30 full-time licensed physicians. According to unaudited financial information for the nine months ended September 30, 2021, the revenue and after-tax profit of the target company were HK $ 219.942 million and HK $ 10.826 million, respectively. At the end of the acquisition, the financial result of the Target Company will be consolidated in the consolidated financial statements of the Group.

The Target Company guarantees the Group that total revenue for the four fiscal years ended December 31, 2025 is not to be less than HK $ 1.18 billion. Upon completion of the acquisition, the Group will have 6 additional specialized medical disciplines, including (i) anesthesiology, (ii) endocrinology of diabetes and metabolism, (iii) hematology and haematological oncology , (iv) pediatric respiratory medicine, (v) reproductive medicine and (vi) respiratory medicine. Leveraging the Group’s operational excellence and efficiency, the Group continues to strengthen inefficient and dispersed medical assets to improve efficiency through corporate transformation. This acquisition will make it possible to deepen the organization of the Group’s medical services activities and further consolidate the Group’s leading position in the premium healthcare market, thereby improving the overall shareholder return.

Mr. Levin Lee, Executive Director and CFO of EC Healthcare said, “EC Healthcare has always been committed to creating a closed ecosystem to deliver premium services to the customer by leveraging multiple brands and disciplines. This acquisition is aligned with the expansion and may increase the Group’s market share and improve the diversification of the activity. In the future, the Group will develop its activities through organic growth as well as through mergers and acquisitions, taking advantage of advances in information technology, branding and services to build the healthcare ecosystem. closed in order to consolidate the healthcare market. “

About EC Health
EC Healthcare is the largest provider of non-hospital medical services in Hong Kong *, leveraging its core businesses in preventive and precision medicine, and committed to developing medical artificial intelligence by integrating its multidisciplinary medical services. This decision, which is based on the Group’s high-end brand image and quality customer service, aims to provide customers with safe and efficient healthcare and medical services with professionalism.

The Group is primarily engaged in the provision of one-stop medical and healthcare 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-shop aesthetic medical solutions provider DR REBORN which has been number one in Hong Kong in terms of sales for years, primary care clinics jointly established with Tencent Doctorwork, SPINE Central Chiropractic Services Center, New York Spine and Physiotherapy Center NYMG, Health Management Center re: HEALTH, a Hong Kong Professional Vaccine HKPV Vaccination Center, a UMH Comprehensive Dental Center DENTAL CARE, a HKAI diagnostic and imaging center, a reVIVE oncology treatment center, an HKMED day procedure center, a specialist clinic CENTRAL SPECIALISTS and NEW MEDICAL CENTER, specialist in obstetrics and gynecology ZENITH MEDICAL CENTER AND DIAGNOSIS CENTER PRENATAL, specialist center, a pediatric center PRIME CARE, cardiology center HONG KONG INTERNATIONAL C ARDIOLOGY CENTER, PathLab Medical Laboratories, a professional HAIR FOREST hair care center, VIVID EYE Ophthalmology Center and EC Veterinary Hospital and Imaging Center.

* According to an independent study by Frost and Sullivan in terms of sales in 2019 and 2020

For more information, please contact:
iPR Ogilvy Limited
Callis Lau / Lorraine Luk / Charmaine Ip
Phone: (852) 2136 6952/2169 0467/3920 7649
Fax: (852) 3170 6606
Email: [email protected]

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