EC Healthcare

What EC Healthcare does

EC Healthcare (医思健康) is Hong Kong's largest non-hospital medical service provider, operating a multi-brand, multi-specialty healthcare platform that spans 168-171 directly owned service centers across Hong Kong, Kowloon, New Territories, Macau, and the Greater Bay Area. Founded in 2005 and listed on the Hong Kong Stock Exchange (2138.HK), the company has assembled 44 sub-brands organized into ten service categories: aesthetics and anti-aging (led by the DR REBORN brand), children's health, digestive health, eye care, fertility and women's health, general practice and family medicine, musculoskeletal and pain management, oncology, preventive screening and diagnostic imaging, and wellness. EC Healthcare also offers veterinary services, broadening its care continuum beyond human health.

The platform is built around an integrated technology stack that includes a centralized online booking system (booking.echealthcare.com), telemedicine services, a vaccination booking portal, an e-commerce storefront (eshop.echealthcare.com), and a proprietary mobile app (EC Mobile App on iOS, Android, and Huawei AppGallery). These digital channels sit on top of the physical center network and a unified customer management system, with the company positioning "Medical AI and Data Analytics" as a proprietary feature to enhance personalization and operational efficiency, though no specific AI products, models, or patents are disclosed. Recent infrastructure investments include the EC Healthcare Building (Central) — a 22,000+ sq ft, seven-floor facility housing six brands — and a joint venture with KaiLong and Asia Allied Infrastructure to build a purpose-built medical-grade building.

EC Healthcare generates revenue primarily through one-time service fees across its medical specialties, with recurring elements in aesthetics/specialty subscription packages and a newly launched HK$99/month unlimited pain management subscription in partnership with HKBN. Distribution combines direct-to-consumer channels (service centers, app, online booking, e-commerce) with B2B2C channel partnerships including AXA (insurance), HKBN (telecom), and Tencent Doctorwork (primary care). FY2023 sales volume reached HK$3.8 billion with 24%+ year-on-year growth, and the company has expanded both organically and via serial acquisitions — including Bayley & Jackson Dental Surgeons (55% stake for HK$129M), veterinary and health screening chains, and a Macau platform — while securing HK$1 billion in sustainability-linked loan financing and capital injections from Goldman Sachs Asia, OrbiMed, and GAW Capital.

Name

EC Healthcare

Legal name

EC Healthcare Holdings Limited (医思健康控股有限公司)

Website

https://echealthcare.com

Company type

Public

Founded year

2009

Headcount range

1,001–5,000 employees

Short description

EC Healthcare is Hong Kong's largest non-hospital medical service provider, operating 168-171 multi-specialty centers across 44 brands spanning aesthetics, GP, dental, oncology, and veterinary care, serving primarily individual consumers through both direct and B2B2C channels.

Ownership category

akta.pro rank

Headquarters

HQ city

Mong Kok

HQ country

Hong Kong SAR China

HQ region

Asia

Offices8 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Supply Chain

Revenue model

1. Medical Aesthetics and Anti-Aging Services: Core revenue stream from aesthetic and anti-aging medical services including DR REBORN brand. Provides one-stop medical aesthetic solutions with advanced medical technology and professional care.
2. General Practice and Family Medicine: Primary healthcare services across multiple service centers providing general consultations and family medicine.
3. Specialty Medical Services: Multi-specialty services including oncology, fertility, musculoskeletal health, eye care, pediatrics, and more across various branded centers.
4. Dental Services: Dental care services through multiple dental brands including EC DENTAL CARE, Bayley & Jackson Dental Surgeons, and others.
5. Preventive Screening and Diagnostic Imaging: Health screening and diagnostic imaging services through centers like re:HEALTH and Boksee Medical Diagnostic Center.
6. Veterinary Services: Pet healthcare services including veterinary hospitals and animal imaging centers under the veterinary brand.
7. Wellness and Lifestyle Beauty: Non-medical wellness and beauty services including skincare products and lifestyle treatments through brands like Dermagic, Seoul Elegant, and Swissline.
8. Subscription-based Pain Management Services: Monthly subscription model ($99/month) providing unlimited pain management treatments through partnership with HKBN, covering non-invasive pain relief services.
9. E-commerce and Product Sales: Online sales of health and beauty products through eshop.echealthcare.com.

Pricing tiers

Go-to-market motion2 records

Distribution channels7 records

Marketing channels8 records

Core offering

EC Healthcare operates as a non-hospital medical service provider delivering preventive and precision medicine through a network of 168+ directly operated service centers across 44 brands in Hong Kong and the Greater Bay Area. Its core offerings span medical aesthetics (DR REBORN), general practice, specialty care (oncology, fertility, pediatrics, eye care), dental, diagnostic imaging, veterinary, and wellness services. The company enhances service delivery through proprietary digital platforms including a mobile app, online booking system, telemedicine, and an e-commerce storefront.

Product overview

EC Healthcare is Hong Kong's largest non-hospital medical service provider operating a multi-brand healthcare ecosystem. The company offers a diverse portfolio of services organized across 10 service categories: Aesthetics & Antiaging (including DR REBORN medical aesthetics), Children's Health (HKAI, NYMG, PMC, Primecare), Digestive Health, Eye Care (EC Dry Eye Centre, EC Eye, EC Smile & LASIK Centre, EC Eye & Surgery Centre), Fertility & Women's Health, General Practice & Family Medicine, Musculoskeletal Health & Pain Management, Oncology and Cancer, Preventive Screening & Diagnostic Imaging, and Wellness (Proderma Lab, DERMAGIC, Seoul Elegant, Swissline, ATO). The company provides technology-enabled services including Online Booking, Telemedicine, Vaccination Booking, E-shop, and a Mobile App. With 168-171 service centers across Hong Kong, Kowloon, New Territories, and the Greater Bay Area, EC Healthcare operates under a platform-plus-multiple-sub-brands model, integrating services across preventive and precision medicine to deliver comprehensive one-stop healthcare solutions.

Differentiator

Problem solved

Functional benefit

Products and services

• DR REBORN Medical Aesthetics Services One-stop medical aesthetic solution brand ranked #1 in Hong Kong for multiple consecutive years, offering safe and effective aesthetic services including cosmetic procedures, skin treatments, and anti-aging solutions to individual consumers.
• Eye Care Services (EC Dry Eye Centre, EC Eye, EC Smile & LASIK Centre, EC Eye & Surgery Centre) Comprehensive eye care services including dry eye management (EC Dry Eye Centre), cataract treatment (EC Eye), SMILE and LASIK vision correction (EC Smile & LASIK Centre), and ophthalmological surgery (EC Eye & Surgery Centre) for individual patients.
• General Practice and Family Medicine Services Primary healthcare services including general consultations, family medicine, and primary care delivered across the EC Healthcare network of service centers.
• Children's Health and Pediatric Services (HKAI, NYMG, PMC, Primecare) Pediatric healthcare services for children from infancy through adolescence, including general pediatric consultations, child health management, and specialty pediatric care delivered through the HKAI, NYMG, PMC, and Primecare sub-brands.
• Musculoskeletal Health and Pain Management Services Pain management, orthopedic, physiotherapy, and chiropractic services delivered through multiple brands including New York Chiropractic & Physiotherapy Centre, treating chronic pain conditions, musculoskeletal issues, and rehabilitation needs for individual patients.
• Preventive Screening and Diagnostic Imaging Services (re:HEALTH, Boksee Medical Diagnostic Center, Proderma Lab) Comprehensive health screening, diagnostic imaging, and laboratory services including preventive health checks, early disease detection screenings, medical imaging, and medical laboratory tests delivered through re:HEALTH, Boksee Medical Diagnostic Center, and Proderma Lab brands.
• Dental Services (Bayley & Jackson Dental Surgeons, EC Dental Care, 恒健牙科医务所) Comprehensive dental services including general dental checkups, cosmetic dentistry, and oral healthcare delivered through Bayley & Jackson Dental Surgeons, EC Dental Care, and 恒健牙科医务所 brands.
• Oncology and Cancer Care Services (Yan Sang Oncology and Cancer Centre, 仁生肿瘤及癌症中心) Cancer treatment, oncology consultations, and ongoing cancer care delivered through the Yan Sang Oncology and Cancer Centre and 仁生肿瘤及癌症中心 sub-brands.
• Wellness and Lifestyle Beauty Services (DERMAGIC, Seoul Elegant, Swissline, ATO) Non-medical wellness, skincare, and lifestyle beauty services including premium skincare products and lifestyle beauty treatments delivered through DERMAGIC, Seoul Elegant, Swissline, and ATO brands.
• Fertility and Women's Health Services Specialty fertility treatments, reproductive health services, and women's health and wellness services for individual patients.
• Veterinary Services (Veterinary Business Chain, 医思兽医医院及影像中心) Pet healthcare services including veterinary consultations, animal medical care, and pet medical imaging delivered through the veterinary hospital and imaging center brand 医思兽医医院及影像中心.
• Online Booking System Centralized digital appointment booking platform enabling customers to schedule medical appointments online across multiple EC Healthcare specialties and brands.
• Telemedicine Service Remote healthcare consultation service enabling patients to receive medical advice and virtual consultations with healthcare professionals via the EC Healthcare website and mobile app.
• Vaccination Booking (EC Vaccine) Online vaccination appointment booking service enabling customers to schedule vaccinations across EC Healthcare service centers.
• EC Mobile App Proprietary mobile application providing access to EC Healthcare services including online booking, telemedicine, vaccination booking, and e-commerce shopping, available on iOS, Android, and Huawei AppGallery.
• E-shop (E-commerce Storefront) Proprietary e-commerce storefront for direct online sales of health and beauty products to individual consumers.
• Unlimited Pain Management Subscription Service Monthly subscription-based pain management service at HK$99/month providing unlimited treatments for common urban pain conditions including neck stiffness, lower back pain, knee pain, and sciatica. Available at 20+ EC Healthcare service centers across Hong Kong for individuals aged 18-70, with 12-month or 24-month contract options and one treatment per day limit.

Quantifiable outcome

• FY23 sales volume of HK$3.8 billion+, representing 24%+ YoY growth
• +2 more outcomes

Named customers2 records

Segments12 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Eight partnerships are on record, tiered flagship, core and minor.

• HKBN (香港宽频)flagshipGTM or Marketing Partner · 29 September 2025Joint launch of 'Unlimited Pain Management Service Plan' at HK$99/month, enabling HKBN customers to access unlimited pain relief treatments across EC Healthcare's 20+ service centers. The partnership combines advanced equipment and professional team support targeting common urban pain conditions.
• Jiangxi RIMAG Group (一脉阳光)coreStrategic or Co-development Partner · 15 May 2025Strategic alliance to establish 'Yimai EC Healthcare Health Tech Alliance' and build a 'Central Procurement + Global Distribution' dual-engine supply chain platform. The joint venture leverages Jiangxi RIMAG's medical imaging equipment and consumables supply chain advantages with EC Healthcare's Hong Kong and overseas market channels to create a global medical technology supply chain platform.
• AXA (安盛)flagshipStrategic or Co-development Partner · 9 September 2022Establishment of the first 'AXA Medical Center' deepening strategic cooperation in medical insurance and completing the large health ecosystem layout. Partnership provides insurance-covered healthcare services to AXA policyholders.
• KaiLong (凯龙瑞) and Asia Allied Infrastructure (亚洲联合基建)coreStrategic or Co-development Partner · 6 June 2022Joint venture to build a purpose-built medical grade building in Hong Kong, creating unprecedented medical tenant-landlord collaboration. EC Healthcare subscribed shares in the JV company to secure long-term tenancy in the new medical building.
• Bayley & Jackson Dental Surgeons LimitedcoreOthers · 30 November 2021Acquisition of 55% stake in Bayley & Jackson Dental Surgeons Limited for HK$129 million to expand dental services and strengthen market leadership in discretionary medical services.
• China Medical System (康哲药业)minorStrategic or Co-development Partner · 18 June 2021Strategic collaboration memorandum for potential business synergies in pharmaceutical and medical product distribution.
• EuroEyes (德视佳)minorStrategic or Co-development Partner · 31 October 2019Joint venture to develop ophthalmological services in Hong Kong and mainland China.
• Tencent Doctorwork (企鹅医生)coreStrategic or Co-development Partner · 17 May 2018Strategic cooperation to open primary care clinics in Hong Kong and introduce closed-loop intelligent clinic model. Partnership includes joint IT system development and collaboration on pediatric vaccination programs.

Scale indicators11 records

Recent moves6 records

Expansion highlights7 records

Regional players

• Bumrungrad Hospital: Bangkok-based international hospital serving medical tourists across Asia. Comparable to EC Healthcare in serving affluent cross-border patients seeking premium specialty and aesthetic care.

Direct peers

• Sisram Medical: Hong Kong-listed aesthetic medical device company (energy-based devices for beauty). Comparable to EC Healthcare's DR REBORN medical aesthetics segment, though Sisram focuses on devices rather than services.
• Town Health International Medical Group: Hong Kong-listed medical group operating clinic chains and specialty medical centers. Directly comparable in HK multi-specialty outpatient services and Chinese medicine/western medicine integration.
• UMP Healthcare Holdings: Hong Kong-listed provider of corporate and consumer healthcare services including medical, dental, and ancillary services. Directly comparable to EC Healthcare in HK multi-specialty healthcare delivery with similar GBA expansion focus.
• Modern Dental Group: Hong Kong-listed dental services group with multi-region presence. Comparable to EC Healthcare's dental segment (Bayley & Jackson, EC Dental Care, etc.) and similar HK-listed public company structure.
• Aesthetic Medical International Holdings Group: China-based aesthetic medical services provider operating specialty clinics for cosmetic surgery and dermatology. Directly comparable to EC Healthcare's aesthetics and anti-aging services segment.
• Quality HealthCare (New Frontier Health): One of Hong Kong's largest private healthcare networks offering GP, specialist, dental, and diagnostic services. Closely comparable to EC Healthcare in multi-specialty HK healthcare delivery and corporate B2B partnerships.

Broad incumbents

• Raffles Medical Group: Singapore-listed integrated private healthcare provider with multi-specialty clinics, hospitals, and consumer health services across Asia. Comparable in scale, multi-specialty positioning, and Asian cross-border expansion strategy.
• IHH Healthcare: One of Asia's largest private healthcare groups operating hospitals and multi-specialty clinics across Malaysia, Singapore, Turkey, and Greater China. Comparable as a broad incumbent in Asian premium healthcare services.

Emerging players

• Ping An Healthcare and Technology: Mainland China digital healthcare platform combining medical services with insurance and AI. Comparable to EC Healthcare's digital health ecosystem strategy, particularly for cross-border mainland expansion.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/echealthcare2138

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries19 records

Funding overview

Funding rounds2 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EC Healthcare