EQS-News : Union Medical Healthcare introduces Dr. Cheng Chi Kong and Aspex Management as strategic shareholders to promote development of medical real estate business in mainland China and Hong Kong

EQS-News / 19/04/2021 / 09:37 UTC+8 
[FOR IMMEDIATE RELEASE] 
 
 
Union Medical Healthcare introduces Dr. Cheng Chi Kong and Aspex Management as strategic shareholders to promote 
development of medical real estate business in mainland China and Hong Kong 
 
(19 April 2021, Hong Kong) Union Medical Healthcare Limited ("Union Medical Healthcare" or 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 introduces Dr. Cheng Chi Kong, Executive Vice Chairman and 
Chief Executive Officer of New World Development Co., Ltd. (SEHK stock code: 17), and Aspex Management as its strategic 
shareholders through shares placement. The move is aimed at promoting the Group's development of medical real estate 
business in mainland China and Hong Kong. 
 
A maximum of 29,636,000 shares of Union Medical Healthcare will be placed at a price of HKUSD7.80 each, which represents 
a premium of approximately 2.34% to the average closing price of HKUSD7.62 per share for the five consecutive trading 
days immediately before the date of the placing agreement. Such shares will account for approximately 2.77% of the 
Company's existing issued share capital and approximately 2.69% of its enlarged issued share capital immediately 
following the placement of the shares. The Group expects to receive net proceeds of approximately HKUSD231.0 million from 
the transaction and intends to use them for the expansion of clinic network in Hong Kong and the Greater Bay Area in 
the People's Republic of China and consolidate the medical and healthcare market through mergers and acquisitions to 
accelerate the Group's business development in Hong Kong and mainland China. Haitong International Securities Company 
Limited is the placing agent. 
 
This transaction is a private investment by Dr. Cheng Chi Kong. Dr. Cheng is engaged in retail, hotels, and office 
buildings businesses in Greater China. He founded the K11 brand which combines the concepts of museum and retail. Dr. 
Cheng also manages commercial and residential properties in core cities of mainland China and leads the development of 
Victoria Dockside, a large-scale commercial real estate project in Hong Kong, and the Sky City project in Hong Kong 
International Airport related to medical tourism of New World Development Co., Ltd. The introduction of Dr. Cheng as 
strategic shareholder will further empower the Group to deploy the medical real estate strategy. Leveraging Dr. Cheng's 
related strategic value of high-quality investment properties, this will facilitate the Group's precise layout in its 
business development across Hong Kong and mainland China and deepen the cross-sector cooperation in medical services 
and residential commercial real estate sectors. In addition, since Dr. Cheng is the executive director of Chow Tai Fook 
Jewellery Group Co., Ltd. (SEHK stock code: 1929), the strategic collaboration will also empower both parties to fully 
utilize the respective retail resources and maximize the synergy between healthcare and retail businesses. 
Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of Union Medical Healthcare said, "The Group is 
honored to introduce Dr. Cheng Chi Kong and Aspex Management as its shareholder. Dr. Cheng has extensive experience in 
the real estate and retail industries while Aspex has an excellent track record in investment. This will strengthen the 
Group's shareholder base and increase its public float. Union Medical Healthcare has been committed to expanding its 
business in the Guangdong-Hong Kong-Macao Greater Bay Area since its listing. With the Group's digital technology 
platform, professional medical team, clinic network and outstanding medical tourism service capability, the Group has 
laid a solid foundation for its business in the Greater Bay Area. The Group is optimistic about its business 
development despite the pandemic. During the second half of the financial year ended 31 March 2021, the Group achieved 
excellent performance in overall sales volume which increased by over 35% year on year, while sales volume of medical 
services increased by over 100% year on year. The Group expects to establish long-term partnerships with the two 
investors, press ahead with its strategy for developing the medical real estate business and accelerate the deployment 
of its resources for business development with precision in the Greater Bay Area as it aims to scale new heights." 
 
- End - 
 
About Union Medical Healthcare Limited 
Union Medical 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 and a professional hair care 
center HAIR FOREST. 
 
*According to an independent research conducted by Frost and Sullivan in terms of revenue in 2019 and 2020 
 
About Dr. Cheng Chi Kong 
Dr. Cheng Chi Kong, Adrian is a visionary leader and a cultural entrepreneur in a new era. He heads the New World Group 
and Chow Tai Fook Jewellery Group, and is the founder of the K11 brand and C Ventures. Dr. Cheng is responsible for 
formulating the strategy for the development strategy and the guiding principle for the operation of the Cheng family's 
business empire and is the third-generation leader of the Cheng family, which is one of the world's most prominent and 
influential families. The Cheng family is ranked third in Forbes' "Hong Kong's Richest 2021 List with total assets of 
over USUSD88 billion as of 31 December 2020. Dr. Cheng is also a prominent and renowned investor with extensive 
experience and a strong track record. 
 
About Aspex 
Aspex Management is an investment management firm focused on pan-Asian opportunities across both the public and private 
equity markets. The firm looks to invest in industries and partner with companies exposed to large addressable markets 
with long-term growth potential as well as those undergoing structural changes. Aspex invests capital on behalf of 
endowments, non-profit foundations, family offices and outsourced investment offices across the globe. 
 
For further information, please contact: 
iPR Ogilvy Limited 
Callis Lau / Shana Li / Ada Chew 
Tel: [phone] 
Fax: [phone] 
Email: [e-mail] 
File: Union Medical Healthcare introduces Dr. Cheng Chi Kong and Aspex Management as strategic shareholders to promote 
development of medical real estate business in mainland China and Hong Kong 
19/04/2021 Dissemination of a Financial Press Release, transmitted by EQS Group. 
The issuer is solely responsible for the content of this announcement. 
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(END) Dow Jones Newswires

April 18, 2021 21:38 ET (01:38 GMT)