Press Release
Press Release
UMP Healthcare Acquires MRI Services Provider in Hong Kong

Create synergy to primary care business with promising prospects and consolidate the Group’s position in the healthcare industry



UMP Healthcare Holdings Limited (UMP or theGroup; SEHK stock code:722) is pleased to announcethat theGroup completed the acquisition of 75% of the target shares of Flash Mover Limited (Flash Mover), a company that provides MRI services in the Yau Tsim Mong district, on 31 March 2021. The consideration, being HK$15,120,000, was funded by the Groups internal resources.


Flash Mover has become UMPs indirect wholly-owned subsidiaryfollowing the completion ofthe acquisition. The Groups advanced medical imaging services now encompass a broad service coverage, all situated within strategic business locations. Through its multiple wholly- or partially-owned centers, the Group offers PET-CT, CT Scan, MRI, ultrasound, mammogram, and other medical imaging and laboratory services in some of the most populated areas in Hong Kong such as Causeway Bay, Central, Tsim Sha Tsui and Mongkok. By doing so, it helps shorten the distance to be travelled by the Groups customers upon obtaining referrals, which makes the Groups multiple service points more accessible and convenient, and helps drive additional traffic to the Groups clinics and creates a more vertically-integrated healthcare ecosystem for the Group.


With its diversified development strategy, UMP has been actively seeking new business opportunities to expand its portfolio. Leveraging its stable cash flow and recurring customer base, the Group is proactively exploring new mergers and acquisitions opportunities, aiming to solidify the foundation of its business, and expanding the scope of its advanced medical imaging services. The Group believes the acquisition will provide a strong foothold for it to extend its presence in the medical imaging and laboratory business and strengthen its customer base, which will enable the Group to diversify and broaden its source of income.


Dr. Sun Yiu Kwong, Chairman, Chief Executive Officer and Executive Director of UMP, commented, Due to the profound impact of COVID-19, increasing health awareness and high demand for healthcare service by an aging population in Hong Kong, the demand for advanced medical imaging services has seen steady and continual growth with enormous development potential. Investing in Flash Mover enables the Group to acquire a controlling stake in a growing business that would allow us to carry out our mid- and long-term operative strategies more speedily and readily.


The acquisition helps bring valuable synergy to UMPs stable primary care business with promising prospects. On top of our comprehensive scope ofmedical imaging and laboratory services, the inclusionof another MRI-focused business in the Groups service offering is in line with our overall strategy to provide accessible and affordable full-spectrum medical care. We believe the acquisition will consolidate our position in the healthcare industry and is in the interests of our shareholders in view of enhancing the Groups long-term development potentials.