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    2138   KYG3037S1021

EC HEALTHCARE

(2138)
  Report
Delayed Hong Kong Stock Exchange  -  03:08:35 2023-02-01 am EST
9.530 HKD   +1.49%
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Union Medical Healthcare : BUSINESS UPDATE PAIN MANAGEMENT BUSINESS

04/14/2021 | 08:03am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

Union Medical Healthcare Limited

香港醫思醫療集團有限公司*

(Incorporated in the Cayman Islands with limited liability)

(Stock Code: 2138)

BUSINESS UPDATE

PAIN MANAGEMENT BUSINESS

This announcement is made by Union Medical Healthcare Limited (the "Company", together with its subsidiaries, the "Group") on a voluntary basis for the purpose of updating the shareholders of the Company (the "Shareholders") and potential investors on the latest business development of the Group.

To cope with the unmet demand for pain treatment in Hong Kong, the Group has commenced the business of medical service for pain management and wellness ("Pain Management Business") since 2016 through the brand "New York Medical Group". As at 31 March 2021, the Group has 35 related service centres in Hong Kong, including 3 flagship service centres providing comprehensive services in relation to Pain Management Business. These service centres are strategically located in some grade- A commercial buildings and some residential areas in the Hong Kong Island, Kowloon and New Territories, with total service area of approximately 70,000 square feet.

The Group's Pain Management Business covers 5 major medical disciplines, including chiropractic, orthopaedics, neurosurgery, physiotherapy and Chinese medicine. As at 31 March 2021, the Group has employed 69 full time exclusive registered practitioners to provide services under the Pain Management Business, including:

Number of full time

exclusive registered

practitioners

Chiropractors

34

Orthopaedics & traumatology specialists

10

Neurosurgery specialists

2

Physiotherapists

16

Chinese medicine practitioners

7

Total

69

To develop the Pain Management Business, the Group has been investing in information technology platform and advanced medical equipment, as well as focusing on branding and service quality. Over the years, the Pain Management Business of the Group has gained popularity in Hong Kong and the Group has endeavoured to lead the development and innovation of the industry. The Group will also

continue to explore expansion opportunities for the Pain Management Business in Mainland China and Asia through organic growth and potential mergers and acquisitions.

In view of the growing demand for medical talents in the area of pain management and wellness in Hong Kong, the Group will leverage on its leading professional expertise to lead the academic research on pain management in Asia. Besides, the Group will collaborate with international medical schools to promote the academic development and to provide on-the-job trainings for practitioners in the chiropractic profession.

Shareholders and potential investors of the Company are advised to exercise caution when dealing in the shares of the Company.

By Order of the Board of

Union Medical Healthcare Limited

Raymond Siu

Company Secretary

Hong Kong, 14 April 2021

As at the date of this announcement, the board of Directors comprises four executive Directors, namely Mr. Tang Chi Fai, Mr. Lee Gabriel, Mr. Lee Heung Wing and Mr. Wong Chi Cheung; two non- executive Directors, namely Mr. Luk Kun Shing Ben and Dr. Wang Steven Dasong, and three independent non-executive Directors, namely Mr. Ma Ching Nam, Mr. Look Andrew and Mr. Lam Chi Hang Josekin.

*. For identification purposes only

Disclaimer

Union Medical Healthcare Ltd. published this content on 14 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 14 April 2021 12:02:01 UTC.


ę Publicnow 2021
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Financials
Sales 2023 3 793 M 484 M 484 M
Net income 2023 229 M 29,2 M 29,2 M
Net Debt 2023 - - -
P/E ratio 2023 49,5x
Yield 2023 1,29%
Capitalization 11 129 M 1 420 M 1 420 M
Capi. / Sales 2023 2,93x
Capi. / Sales 2024 2,33x
Nbr of Employees 2 557
Free-Float 38,7%
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Technical analysis trends EC HEALTHCARE
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Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 6
Last Close Price 9,39 HKD
Average target price 10,18 HKD
Spread / Average Target 8,41%
EPS Revisions
Managers and Directors
Lyn Wade Lu Co-Chief Executive Officer & Executive Director
Chi Fai Tang Chairman & Co-Chief Executive Officer
Heung Wing Lee Finance Director
Kun Shing Luk Non-Executive Director & Chief Information Officer
Tai Cheung Wong Chief Operating Officer
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