Aesthetic Healthcare establishes bridgehead
for expansion into Asia and accelerate SBC’s presence in global
markets
SBC to leverage operational synergies and
implement growth strategies to launch into new verticals and
geographies
SBC Medical Group Holdings Incorporated (Nasdaq: SBC) (“SBC
Medical”, or the “Company”, or “SBC”), a global provider of
comprehensive consulting and management services to the medical
corporations and their clinics, today announced that it has entered
into a definitive agreement to acquire Aesthetic Healthcare
Holdings Pte. Ltd. ("AHH"), a privately-held Singapore-based
company that owns and operates several brands that provide
aesthetic medical treatments in an all cash transaction scheduled
to close on November 13, 2024.
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the full release here:
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SBC to leverage operational synergies and
implement growth strategies to launch into new verticals and
geographies (Graphic: Business Wire)
The acquisition by SBC of AHH marks the first step in Company’s
strategy to grow its business through acquisitions, which includes
plans to expand its business internationally with a primary focus
on the U.S. and Asia markets. The Company believes Singapore
represents the ideal hub for the further development of its brand
in the region.
Strategic Rationale: A foothold to expand into Asia
Founded by Dr. Ewen Chee, a pioneer in Singapore's aesthetic
medical industry, AHH is well established in the country with a
multi-brand strategy that caters to diverse customer needs. With
the acquisition of AHH, SBC believes it has taken an important step
toward expanding its presence in the Asian market. AHH's portfolio
consists of four brands and 21 outlets, and will be added to the
SBC clinic network, strengthening its customer base in the Asian
region. SBC has positioned Singapore as the core of its Asian
operations and plans to leverage the high brand recognition AHH has
established to promote strategic partnerships throughout Asia. The
expansion of SBC's global presence is consistent with its mission
to establish leadership in the aesthetic medical industry by
providing the value of beauty and health beyond national borders
through innovative aesthetic medical treatments.
Strategies to Expand the Aesthetic Medicine Market by
Leveraging Singapore's Advantages As disposable income
increases in line with recent economic growth, demand for aesthetic
medical treatments to maintain youth and beauty is growing rapidly.
The Asian market in particular has shown remarkable growth, and
currently accounts for the second largest share of the global
aesthetic medical market, with an average annual growth rate of
11%*, exceeding that of any other region. Among these, Singapore is
ideally positioned as a gateway to the Asian market due to its
geographical and cultural advantages, and with its well-developed
medical infrastructure and regulatory environment. SBC believes it
is an ideal base for expanding services throughout Asia. *Data
Source:
https://straitsresearch.com/report/aesthetic-medicine-market
Dr. Ewen Chee, Chief Executive Officer of Aesthetic
Healthcare Holdings Pte. Ltd., said: “We are pleased to
announce that our clinic group has become a member of SBC, one of
the leading aesthetic medical clinic groups in Japan. Since our
establishment, we have been committed to providing the best medical
treatments to each and every patient in Singapore, and have earned
the trust of many customers. We would like to express our deepest
gratitude to our employees and patients for their support. We see
this acquisition as an opportunity for new growth, and we are
confident that SBC's advanced technology, management know-how, and
extensive experience in the Japanese market will contribute greatly
to our further development. We expect to accelerate our expansion
throughout Asia and provide the best aesthetic medical treatments
to as many patients as possible. We also hope to contribute to the
expansion of the franchise business in the U.S. by utilizing the
franchise business know-how we have cultivated through the
operation of SkinGo! Together, with SBC, we aim to be a leader in
the Asian aesthetic medicine industry and will make further efforts
to meet the expectations of each and every patient.”
Yoshiyuki Aikawa Founder and Chief Executive Officer
of SBC Medical Group Holdings, Inc., said: “We are very pleased
to welcome AHH to our group. AHH has been providing high-quality
aesthetic medical services in Singapore for many years and has
earned the trust of many customers. With this acquisition, we
expect to accelerate our expansion into the Asian market and
strengthen our global aesthetic medical treatment delivery system.
We are confident that we can create significant synergies by
combining expertise in aesthetic medical treatments and management
know-how we have cultivated in Japan with AHH's brand power and
customer base. We intend to grow together while respecting the
corporate culture that AHH has cultivated thus far. We will also
respect the culture and customs of Singapore and try to manage the
company in a way that is rooted in the local community, while
actively contributing to the local community. By leveraging the
strengths of both companies, we aim to become a leading aesthetic
medical clinic in Asia.”
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About SBC Medical SBC Medical, headquartered in
Irvine, California and Tokyo, Japan, owns and provides management
services and products to cosmetic treatment centers. The Company is
primarily focused on providing comprehensive management services to
franchisee clinics, including but not limited to advertising and
marketing needs across various platforms (such as social media
networks), staff management (such as recruitment and training),
booking reservations for franchisee clinic customers, assistance
with franchisee employee housing rentals and facility rentals,
construction and design of franchisee clinics, medical equipment
and medical consumables procurement (resale), the provision of
cosmetic products to franchisee clinics for resale to clinic
customers, licensure of the use of patent-pending and non-patented
medical technologies, trademark and brand use, IT software
solutions (including but not limited to remote medical
consultations), management of the franchisee clinic’s customer
rewards program (customer loyalty point program), and payment tools
for the franchisee clinics. For more information, visit
https://sbc-holdings.com/
About Aesthetic Healthcare Holdings Pte. Ltd. AHH is
based in Singapore and operates aesthetic medical clinics, family
clinics, and quick facial aesthetics outlets. The founder, Dr. Ewen
Chee, is known as one of the pioneers in the field of aesthetic
medicine in Singapore and is a co-chair of the first Asia Pacific
Thread Lift Conference (APEM) and a board-certified physician by
the American Academy of Aesthetic Medicine. He is a frequent
speaker at international conferences and workshops, and his
expertise and knowledge have been featured in numerous scientific
publications.
Major brands and number of clinics:
- The Chelsea Clinics (2 locations)
https://chelseaclinic.com.sg/ Premium skin care clinic focusing on
dermatology
- Gangnam Laser Clinic (1 location)
https://www.gangnamlaser.com/ Skin care clinic focusing on medical
hair removal
- SkinGo! (16 locations) https://skingo.sg/ Aesthetic
salons focusing on facial menus
- Family clinics (2 locations)
Forward-Looking Statements This press release contains
forward-looking statements. Forward-looking statements are not
historical facts or statements of current conditions, but instead
represent only the Company’s beliefs regarding future events and
performance, many of which, by their nature, are inherently
uncertain and outside of the Company’s control. These
forward-looking statements reflect the Company’s current views with
respect to, among other things, the Company’s product launch plans
and strategies; growth in revenue and earnings; and business
prospects. In some cases, forward-looking statements can be
identified by the use of words such as “may,” “should,” “expects,”
“anticipates,” “contemplates,” “estimates,” “believes,” “plans,”
“projected,” “predicts,” “potential,” “targets” or “hopes” or the
negative of these or similar terms. The Company cautions readers
not to place undue reliance upon any forward-looking statements,
which are current only as of the date of this release and are
subject to various risks, uncertainties, assumptions, or changes in
circumstances that are difficult to predict or quantify. The
forward-looking statements are based on management’s current
expectations and are not guarantees of future performance. The
Company does not undertake or accept any obligation to release
publicly any updates or revisions to any forward-looking statements
to reflect any change in its expectations or any change in events,
conditions, or circumstances on which any such statement is based,
except as required by law. Factors that may cause actual results to
differ materially from current expectations may emerge from time to
time, and it is not possible for the Company to predict all of
them; such factors include, among other things, changes in global,
regional, or local economic, business, competitive, market and
regulatory conditions, and those listed under the heading “Risk
Factors” and elsewhere in the Company’s filings with the U.S.
Securities and Exchange Commission (the “SEC”), which are
accessible on the SEC’s website at www.sec.gov.
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version on businesswire.com: https://www.businesswire.com/news/home/20241117787334/en/
SBC Medical Group Holdings Incorporated Hikaru Fukui / Head of
Investor Relations e-mail: ir@sbc-holdings.com
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