EC Healthcare acquires 60% share capital of Pioneer Evolution for expansion

Date: 2022-10-03   Author: Saipriya Iyer  Category: #news

EC Healthcare acquires 60% share capital of Pioneer Evolution for expansion

EC Healthcare, the largest non-hospital medical service provider based in Hong Kong, has recently stated that the Group and the Seller have entered into a sale and purchase agreement to obtain 60% of the allotted share capital of Pioneer Evolution Limited (the ‘Target Company’) for a total consideration of $4.6 million (HK $36.4 million) in cash.

For the unversed, EC Healthcare together with its subsidiaries is addressed as the Group.

The target firm is said to be a controlling holding company of a medical service provider with a long history of offering multi-disciplinary healthcare services in Hong Kong since 2002. It also runs 9 medical centers under the Sure-Care Medical and Health Network business names.

Apparently, with this acquisition, the multi-disciplinary healthcare services are slated to strengthen the Group’s medical services layout and further empower it to increase its market share in the healthcare market.

Upon the finalization, the Group’s full-time enlisted doctor team will be extended, and its medical services facility will be reinforced in Hong Kong, especially in New Territory East. It is also estimated to build cross referrals to augment the market share.

In addition, by leveraging its operational efficiencies and excellence, the Group will utilize Sure-Care Medical and Health Network in view of augmenting its asset value via corporatization.

Speaking on the latest move, Mr Levin Lee, Executive Director and Chief Finance Officer, EC Healthcare, stated that EC Healthcare is devoted to rolling out an enclosed ecosystem to offer premium services to clients by utilizing multiple brands and disciplines.

Levin further stated that the acquisition is in line with the Group’s expansion strategy and will also consolidate its leading market position in Hong Kong’s healthcare market while expanding the overall shareholders’ return.

It is imperative to note that EC Healthcare is slated to be a market-leading consolidator. By growing its businesses via organic growth and acquisitions as well as mergers, it is striving to become one of the prominent healthcare service providers across Asia.

Source credit - https://menafn.com/1104958503/EC-Healthcare-Acquires-Multi-Disciplinary-Healthcare-Services-Chain-In-Hong-Kong



About Author


Saipriya Iyer linkdin-boxtwitter

Saipriya Iyer

Saipriya Iyer currently works as a content developer for AlgosOnline. A computer engineer by profession, she ventured into the field of writing for the love of playing with words. Having had a previous experience of 3 years under her belt, she has dabbled with website...

Read More

Post Recommendents

Sterilization Equipment Market - Demand Analysis and Trends Insights to 2026

Author: Rahul Varpe

A highly analytical qualitative as well as quantitative evaluation of the Sterilization Equipment Market has been covered in this report. The study evaluates the myriad aspects of this industry by taking into consideration its historical and forec...


Electrosurgical Generators Market by Development Status and Regional Analysis to 2026

Author: Rahul Varpe

An extremely definite evaluation of the Electrosurgical Generators Market in terms of qualitative as well as quantitative analysis has been covered in this report. The myriad aspects of this industry, having considered its historical and forecast ...


Depyrogenated Sterile Empty Vials Market to 2026 - Trends, Demand and Growth Projections

Author: Rahul Varpe

The report overall depicts the potential opportunities for the Depyrogenated Sterile Empty Vials Market till the year 2026 based on SWOT analysis, growth strategies by the major vendors prevalent in the current scenario, surveys highlighting the c...