EQS-News / 31/10/2019 / 08:29 UTC+8
*[FOR IMMEDIATE RELEASE]*
*/
Union Medical Healthcare and EuroEyes to form joint venture
to develop ophthalmological services in Hong Kong and mainland China*
(31 October 2019, Hong Kong) *Union Medical Healthcare Limited* ("Union
Medical Healthcare", which together with its subsidiaries is referred to as
the "UMH Group", SEHK stock code: 2138), a leading integrated medical group
in Hong Kong, is pleased to announce that UMH Group entered into a
non-binding memorandum of understanding ("MOU") with EuroEyes Group
(EuroEyes International Eye Clinic Limited (SEHK stock code: 1846) and its
subsidiaries are referred to as the "EuroEyes Group" ) on 30 October 2019 to
establish a 50-50 joint venture in Hong Kong to develop ophthalmological
services and related businesses in the city and mainland China.
To develop the market of mainland China, the proposed joint venture,
pursuant to the MOU, will begin with Guangzhou and Shenzhen where UMH Group
and EuroEyes Group already have business presence. The registered
ophthalmologists of EuroEyes Group will be the consultants in the proposed
joint venture. All medical treatments at the clinics or service centres in
Hong Kong under the proposed joint venture will be provided by
ophthalmologists registered in Hong Kong. Personnel and employees who work
for the proposed joint venture will have the opportunity to be trained in
Germany. EuroEyes Group will be primarily responsible for medical matters
while UMH Group will be primarily responsible for marketing and recruitment
in Hong Kong. The two parties are negotiating the terms of the proposed
joint venture and they expect to sign a definite agreement no later than 31
December 2019.
*Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of
Union Medical Healthcare* said, "UMH Group is dedicated to developing and
diversifying its medical services. Our cooperation with EuroEyes Group,
which is a leading German ophthalmological clinic group, in providing
ophthalmological services in mainland China and Hong Kong will enable UMH
Group to tap the immense demand there. In mainland China, our proposed joint
venture will commence operations first in Guangzhou and Shenzhen. This will
fit in with UMH Group's strategy of expanding its business actively in the
Guangdong-Hong King-Macao Greater Bay Area to tap the potential there. UMH
has a professional medical team, a clinic network and an advantage in
providing one-stop medical services in mainland China and Hong Kong. It will
combine its strengths with EuroEyes Group's first-rate technology to
consolidate its leading position in the market for high-end medical
services."
-End-
*About Union Medical Healthcare Limited*
Union Medical Healthcare as 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-discipline 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 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, diagnostic and imaging centre HKAI,
day procedure centre HKMED, specialty clinic SPECIALISTS CENTRAL,
chiropractic services centre SPINE Central, health management centre
re:HEALTH, vaccine Centre Hong Kong Professional Vaccine HKPV, Pediatric
centre Primecare, oncology treatment centre reVIVE, comprehensive dental
centre UMH DENTAL CARE and primary care clinics jointly established with
Tencent Doctorwork.
_*According to research conducted by Frost and Sullivan based on the revenue
of medical service providers in 2018._
*For further information, please contact:
iPR Ogilvy & Mather*
Callis Lau / Molisa Lau / Francesca Yeung / Vivian Ng
Tel: (852) 2136 6952 / 2136 6953 / 3920 7639 / 3920 7651
Fax: (852) 3170 6606
Email: umh@iprogilvy.com
Document: http://n.eqs.com/c/fncls.ssp?u=UWKSQHOROK [1]
Document title: Union Medical Healthcare and EuroEyes to form joint venture
to develop ophthalmological services in Hong Kong and mainland China
31/10/2019 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
October 30, 2019 20:29 ET (00:29 GMT)
