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HONG KONG, Apr 3, 2023 - (ACN Newswire) - EC Healthcare (the "Company", together with its subsidiaries, the "Group", SEHK stock code: 2138), the largest non-hospital medical group in Hong Kong*, announced with pleasure that the transaction involving Excellent Connect Limited, a distributor of aesthetic medical devices and consumables, as previously announced on 7 February 2023 has been completed. After the completion, Excellent Connect Limited will become the leading driver of the venture capital platform (the "Venture Capital Platform"), and the Seller, Mr. Chung Wai Ting, will become the strategic shareholder of this platform. The Venture Capital Platform aims to unite the influence of the market stakeholders in establishing an industry fund to develop the Southeast Asian and Asian markets, with a view to lead the integration of the upstream industry in the Asia-Pacific region.
Through this transaction, Mr. Chung Wai Ting, the seller, injected his wholly-owned Excellent Connect Limited into the Venture Capital Platform and Mr. Chung has also become the strategic shareholder of this platform. Through the superior resources, it empowers the long-term development of the platform. The Venture Capital Platform will consolidate the market, from the aesthetic medical high energy-based devices and injectables as a stepping stone and further explore opportunities in the eight segments, including 1) Specialty equipment and medicine treatment; 2) Laboratory equipment and consumables; 3) Medical imaging devices; 4) Dental medications and equipment; 5) Skincare, cosmetics, and health supplements; 6) Rehabilitation and home care equipment; 7) Veterinary clinic equipment and medicines and 8) Home-use Aesthetic Medical Devices. The Group aims to build the Venture Capital Platform as an Asia-leading professional intelligent medical platform by maximizing the value of upstream and downstream industry integration.
Mr. Chung Wai Ting, Director of Excellent Connect Limited said, "We've been investing in the medical aesthetic industry for over 20 years and introducing various high-energy-based devices to the market. Aesthetic medical devices introduced by us are all equipped with cutting-edge technology and can provide visible results with safety. As a product sourcing expert and distributor, we connect upstream manufacturers and downstream service providers. As the pioneer of the Venture Capital Platform, I wish to unite more talents with a shared vision to join this platform as strategic shareholders and become an influential industry fund. Together with the partners, the platform is expected to enhance the industry's professionalism. The Venture Capital Fund holds a vision to become Asia-leading and a comprehensive distribution platform covering all medical and aesthetic medical device categories that enables technology to be accessible to everyone."
EC Healthcare, "EC Healthcare is committed to expanding strategic partnerships and to further diversifying the healthcare ecosystem. The Group believes the investment in the Venture Capital Platform led by Mr. Chung enables the Group to achieve leverage and vertical integration of the industry value chain. With professional knowledge from Mr. Chung, the Group can provide streamlined product trainings and improve the leading voice on technology development. As a strategic investor, the Group wishes to unite more downstream shareholders with a shared vision and achieve mutual empowerment between product development and customer and promote leading position in the Asia. Looking forward, the Group hope to bring a brighter future to the industry as a leading market consolidator, exploring opportunities in the Asia and strive to be an 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
Tel: (852) 2136 6952 / 2169 0467 / 3920 7654
Fax: (852) 3170 6606
Email: ech@iprogilvy.com
Topic: Press release summary
Source: EC Healthcare
Sectors: Healthcare & Pharm
https://www.acnnewswire.com
From the Asia Corporate News Network
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