Union Medical Healthcare expects sales volume to grow by more than 10% to over HK$2.2 billion for the Year

[FOR IMMEDIATE RELEASE]

Union Medical Healthcare expects sales volume to grow by more than 10% to over HK$2.2 billion for the Year

Sales volume of medical services in Hong Kong and sales volume in Mainland China is expected to increase by over 100% and 75% respectively for the second half of the Year

(12 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 expected performance of the Group's sales volume for the year ended 31 March 2021 (the "Year").

The Group once again demonstrated business resilience and maintained a stable performance under adversity. Within 142 working days of the compulsory closure of certain businesses, the Group boost sales in the Hong Kong local market and in Mainland China through proactive client engagement and e-commerce campaigns, stimulating cross-selling among different medical disciplines and acquisition of several medical establishments to expand the Group's market share in healthcare medical services market and consolidate its leading position in the industry.

Although the business environment is full of challenges due to the impact of local social distancing measures and the compulsory closure of all beauty parlors under the COVID-19, the Group's business performance remains stable. The Group expects to record sales volume of no less than HK$2.2 billion for the Year, representing an increase of no less than 10% year-on-year ("yoy"). The growth trend in the second half of the Year was particularly significant, of which the overall sales performance of the Group is expected to record a yoy increase of no less than 35%.

As the Group continues to implement the medical asset integration strategy and benefited from the rigid demand for medical services in the market, the sales volume of medical services offered by the Group is expected to record an increase of no less than 60% yoy for the Year, despite the absence of medical tourists due to the lockdown. The growth trend in the second half of the Year was strong, of which the sales volume of medical services in Hong Kong offered by the Group is expected to record an increase of no less than 100% yoy.

Moreover, with the recovery of the economy in Mainland China and the Group continued to exert its outstanding brand capabilities, digital technology system platforms and high-level service operations capabilities in the Greater Bay Area, the Group's full year sales volume in Mainland China is expected to record an increase of over 60% yoy for the Year, and an increase of no less than 75% yoy in the second half.

Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of Union Medical Healthcare said, "Looking ahead, the Group is optimistic about its business performance, which is expected to continually benefit from the demand for the COVID-19 testing service and the provision of the COVID-19 antibody testing service in the foreseeable future. The Group will closely monitor the progress of the COVID-19 vaccination scheme launched by the Hong Kong Government and the potential resumption of cross-border travel of which we believe that there will be a strong consumption rebound after the end of lockdown. Moreover, the Group will also continue to develop its businesses through organic growth as well as mergers and acquisitions. We will leverage our advancement in information technology, branding and service to build a closed-loop healthcare ecosystem and consolidate the Group's leading industry position as a one-stop comprehensive medical service provider."

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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 

For further information, please contact: 

iPR Ogilvy Limited 

Callis Lau / Shana Li / Ada Chew 

Tel: (852) 2136 6952 / 3920 7649 / 3920 7650 

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Email: umh@iprogilvy.com