[FOR IMMEDIATE RELEASE]
Union Medical Healthcare and Biotechnology Company Avalon Genomics
Agree to Strategic Collaboration
(30 July 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, is pleased to announce that the Group has entered into a strategic collaboration agreement with Avalon Genomics (HK) Limited ( "AGHK"), which is wholly owned by Avalon Genomics Limited ("Avalon Genomics"), expanding its services to genetic testing.
Avalon Genomics is a biotechnology company primarily engaged in the business of genetic laboratories, genetic testing and related development and research. Pursuant to the Agreement, AGHK granted the Company the exclusive right in the health check business sector in Hong Kong, subject to the terms of the Agreement, to distribute, promote, market and sell the genetic and genomic tests developed and offered by AGHK, which assess the genetic risks for various diseases of human beings including but not limited to autoimmune diseases, cancers, heart and vascular diseases, metabolic diseases and respiratory diseases. Meanwhile, the Group has entered into an agreement to acquire a minority stake in Avalon Genomics as a strategic investor.
Mr. Eddy Tang, Chairman, Executive Director and Chief Executive Officer of Union Medical Healthcare, said, "The Group has been extending its reach to and investment in other medical disciplines to enhance its service portfolio offering. We are pleased that Avalon Genomics has granted the exclusive right and agreed to work in strategic collaboration with us. Avalon Genomics is founded by a group of reputable scientists, biotechnologists and medical doctors who share a vision of people advancing healthcare of society through novel genetic research. Their vision coincides with our core values about developing precision medicine and preventive medical services. Through the collaboration, both Avalon Genomics and Union Medical Healthcare will be able to create synergy by leveraging our respective talents and resources, thus delivering a full array of quality services to clients."
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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 54 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. Of which DR REBORN is recognised by "Hong Kong Top Service Brand Award" that is jointly organised by Hong Kong Brand Development Council and The Chinese Manufacturers' Association of Hong Kong. The Group is the largest aesthetic medical service provider in Hong Kong in terms of revenue in 2017.
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
31/07/2018 Dissemination of a Financial Press Release, transmitted by EQS Group.
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