[For Immediate Release]
Medical Investment Fund OrbiMed Acquires Stake in Union Medical Healthcare and Becomes Second-Largest Shareholder and Strategic Partner
(14 May 2018, Hong Kong) Union Medical Healthcare Limited ("Union Medical Healthcare" or the "Company"; together with its subsidiaries, the "Group", SEHK stock code: 2138), a leading integrated medical group in Hong Kong, announced that OAP III (HK) Limited ("OAP") acquired 63,806,686 ordinary shares of the Company. Its shareholding reaches approximately 6.49% of the total issued share capital of the Company following the acquisition.
OAP is a wholly-owned subsidiary of OrbiMed Asia Partners III, L.P., an Asia-focused private equity fund operated by OrbiMed Advisors LLC ("OrbiMed"). OrbiMed and its affiliates manage over US$14 billion across public and private company investments worldwide. They have been investing from biopharmaceuticals to life science, medical devices, healthcare services and diagnostics, across the healthcare industry for companies in different stages, covering early start-ups, companies in growth and maturity stage as well as listed corporations globally for over 20 years.
Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of Union Medical Healthcare said, "The Group has maintained close ties with OrbiMed since our listing. We are excited that OrbiMed became our second largest shareholder and strategic partner, demonstrating its confidence in the Company's prospects. Our results in the past two years have proven our capability and strategy to expand in the Greater Bay Area. Looking forward, we will pursue in seeking strategic collaboration with OrbiMed. Meanwhile, the Group will eye on the tremendous opportunities in Greater Bay Area, exploring potential acquisitions and developing other medical specialties, coupled with big data and artificial intelligence to expand our professional medical and healthcare services. The Group will maintain its business diversification strategy to add impetus to its future growth, bringing favourable returns to our shareholder."
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About Union Medical Healthcare Limited
Union Medical Healthcare is principally engaged in the provision of one-stop medical and health care services in the Greater China via its 53 clinics and servicing centres with an aggregate service floor area of 200,000 sq. ft. The Group provides a full range of services and products under our well-recognised brands, including those of its one-stop aesthetic medical solutions provider DR REBORN, chiropractic services centre SPINE Central, health management and vaccination centre re:HEALTH and comprehensive dental centre UMH DENTAL CARE. The Group is the largest aesthetic medical service provider in Hong Kong in terms of revenue and obtained the Hong Kong Top Service Brand in 2016.
For further information, please contact:
iPR Ogilvy & Mather
Callis Lau / Molisa Lau / Maggie Chui / Francesca Yeung
Tel: (852) 2136 6952 / 2136 6953 / 2136 8059 / 3920 7639
Fax: (852) 3170 6606
14/05/2018 Dissemination of a Financial Press Release, transmitted by EQS Group.
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