EC Healthcare Signs Inaugural Dual-Tranche Sustainability-Linked Facility, The First-of-its-Kind in Hong Kong Healthcare Industry
HONG KONG, Jun 21, 2022 – (ACN Newswire via SEAPRWire.com) – EC Healthcare (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 the signing of its first sustainability-linked facility (“SLL Facility”) totalling HK$ 700 million with The Hongkong and Shanghai Banking Corporation Limited (“HSBC”) as sole lender and sustainability structuring bank.
The inaugural dual-tranche SLL Facility is a first-of-its-kind for a healthcare services provider in Hong Kong, complementing the Group’s established status as a leading industry pioneer and reaffirming the importance of sustainability in the Group’s future growth strategy. The SLL Facility is comprised of revolving credit and a term loan, and the proceeds will be used for working capital.
The Group is committed to the United Nations 2030 Sustainable Development Goals and has developed a number of clear targets against each of the environmental, social, and governance (“ESG”) elements. These include reducing energy consumption, increasing employee engagement, and achieving a globally recognized standard in relation to corporate governance.
SGS Hong Kong Limited, a leading sustainability consultancy firm, acted as ESG consultant on the SLL Facility.
Ms. Ada Wong, Executive Director, Chief Strategy Officer & Chief Investment Officer of EC Healthcare said, “This maiden sustainability-linked facility is an important milestone and represents another bold step in the Group’s sustainability journey. As the leading healthcare and medical services provider in Hong Kong, this transaction reflects the Group’s desire to integrate sustainable development into its core business strategy as well as implement best practices into the daily operations of its various brands. We are delighted to align the Group’s financing strategy with a number of impactful ESG goals, reinforcing our commitment to sustainability in the long term. We are excited to set the stage for subsequent sustainable finance transactions in the Hong Kong healthcare market.”
About EC Healthcare
EC 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 is a constituent stock of the Hang Seng Composite Index and the MSCI Hong Kong Small Cap Index.
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, a professional hair care center HAIR FOREST, primary care clinics jointly established with health management centre re:HEALTH, a vaccine centre Hong Kong Professional Vaccine HKPV, General outpatient clinic Tencent Doctorwork, the largest one-stop pain management centre in Hong Kong New York Medical Group, the comprehensive dental centres Bayley & Jackson Dental Surgeons, EC DENTAL CARE and Health and Care Dental Clinic, an advanced diagnostic and imaging centre HKAI, an oncology treatment centre reVIVE, a day procedure centre HKMED, a specialty clinic PREMIER MEDICAL CENTRE, SPECIALISTS CENTRAL and NEW MEDICAL CENTER, a paediatric centre PRIME CARE, a gynaecology specialist ZENITH MEDICAL CENTER AND PRENATAL DIAGNOSIS CENTRE, PathLab Medical Laboratories, Ophthalmology Center VIVID EYE and EC Veterinary Hospital and Imaging Center.
*According to independent research conducted by Frost and Sullivan in terms of revenue in 2020 and 2021
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