Expands Its Network Presence into Residential Areas and Enhances Service Depth
HONG KONG, Oct. 10 /Xinhua-PRNewswire/ -- Quality Healthcare (HKEx: 593) today announces that it has agreed to acquire the entire issued share capital of GHC, a holding company with subsidiaries operating eighteen GHC medical centres and a cosmetic specialist centre in Hong Kong, for a consideration of HK$29,600,000.
Quality Healthcare is principally engaged in the provision of medical services, elderly care services, nursing agency, physiotherapy, dental and other services, with an extensive network of medical centres in key business districts in Hong Kong. The acquisition of GHC supports Quality Healthcare’s corporate strategy of expanding its network presence and services offerings into key residential areas, to provide convenient and comprehensive health care services to the Hong Kong community.
"GHC is an excellent acquisition for us because they have an extensive network of medical centres in residential areas, particularly in the New Territories." said Dr. Lincoln Chee, Chief Executive Officer of Quality Healthcare Asia Limited. "This acquisition will enable Quality Healthcare to increase geographical presence and footprint throughout Hong Kong and to strengthen our community medicine and private patient offerings."
In addition to enjoying the benefits of the existing established network of GHC medical centres, Quality Healthcare will also add the existing clientele of GHC to its existing network base, enabling the new members to enjoy the comprehensive health and wellness services already available at Quality Healthcare.
Dr. Kong Ching Boon, Executive Director of GHC, added: "We are delighted that GHC is joining Quality Healthcare. The excellent infrastructure and management system of Quality HealthCare is well known in the medical community and will provide an excellent platform for our continued expansion in the community. Our patients will benefit from better care and more comprehensive integrated services offered by Quality HealthCare."
Dr. Chee concluded: "Going forward, Quality Healthcare is ideally positioned for the healthcare reform challenges that lie ahead. We will continue to ensure quality-assured healthcare services to the Hong Kong community, now made more convenient by our increased network presence, and to ensure affordability for our members through the knowledge, client base, and resource synergies made possible by the combination."
The deal is expected to close by 31 October 2008, subject to certain condition precedence stated in the sales and purchase agreement.
About Quality Healthcare
Quality HealthCare Asia Limited, a physician led health provider group, offers Hong Kong’s most comprehensive range of private outpatient healthcare and wellness services covering all our patients’ needs at every stage of their lives.
With experience in local medical services dating back over 130 years, we provide both general and specialist care for our private and corporate members through a network of more than 560 Western and Chinese medical centres and 45 dental and physiotherapy centres. We also operate seven elderly care homes and are also Hong Kong’s longest-established international nursing agency.
In 1998, Quality HealthCare became the first healthcare provider to be listed on the Hong Kong Stock Exchange (HKSE ticker 593).
For more information, please visit http://www.qualityhealthcareasia.com .
About GHC
GHC is a company incorporated in Hong Kong and is the holding company of the GHC Group. The subsidiaries of GHC are engaged in the operation of 18 GHC medical centres primarily in Kowloon and the New Territories, and a cosmetic specialist centre in Causeway Bay. Multiple integrated medical centres operate 24 hours a day, providing round-the-clock medical services to the general public and corporate clients.
Established in 2001, GHC has rapidly developed into one of the leading community providers in the territory over the past 7 years. GHC advocates the idea of community medical service for all, allowing medical knowledge workers to come together to provide cost-efficient medical solutions, and to support the local medical system.
For more information, please visit http://www.ghcmedical.com .
Media Contact
Ms. Julie Chow
Director of Corporate Communications
Tel: +852-2975-2388
Mobile: +852-9328-9164
Email: julie.chow@qhms.com
