United in Our Fight Against Cancer - New Frontier Group Acquires Hong Kong Integrated Oncology Centre

HONG KONG,May 24,2024 -- New Frontier Group (hereinafter referred to as "New Frontier") announces today that it has completed the acquisition of Hong Kong Integrated Oncology Centre (hereinafter referred to as "HKIOC"),a leading comprehensive private oncology medical platform. Through this acquisition,New Frontier will own HKIOC's operations,including HKIOC Centre (Hong Kong Island),HKIOC Centre (Kowloon),and Hong Kong Adventist Hospital Oncology Center. HKIOC provides a full range of cancer treatment services,including early diagnosis,radiotherapy,systemic treatments,mental health,and other rehabilitation support services.

HKIOC will join forces with New Frontier's subsidiary,HEAL Oncology,to become one of Hong Kong's leading private comprehensive oncology entities. HKIOC and HEAL Oncology,and United Family Healthcare,also a subsidiary of New Frontier,will work together to elevate cross-border cancer care. Through this partnership,surgeons,oncologists,and other allied health specialists will create a nationwide multidisciplinary cancer network.

This is one of Hong Kong's most significant healthcare-related acquisitions in recent years. It not only extends New Frontier's presence in the Greater Bay Area ("GBA"),but also provides a catalyst for the development of cancer care in the region. This acquisition is underpinned by New Frontier's strong conviction in the supply and demand mismatch of the cancer population. There is a sizeable and growing patient population in the GBA. New Frontier is committed to delivering world class solutions in this area.

Oncology care is one of the key growth pillars within New Frontier's strategic roadmap. Despite the increasing prevalence of cancer incidences,the average 5-year survival rate in this region still lags behindother developed international counterparts. In light of this,New Frontier will provide patients with a full spectrum of cancer services that are both personalized and effective. To close the care gap,interventions must be made in the areas of screening and detection. Additionally,advanced drugs and treatment options such as targeted therapy,immunotherapy,and radiotherapy are capable of irradicating tumors more precisely while reducing collateral damage and side effects. Surrounding core cancer treatments,allied health services such as Traditional Chinese Medicine ("TCM"),mental health support,and physical rehabilitation can drastically improve patient experience and outcome.

This acquisition has unlocked deep sub-specializations across different cancer types. In addition,our multidisciplinary team ("MDT") comprising of surgeons,radiologists,pathologists,Radiation therapists,pharmacists,etc.,will work together to formulate a precise and personalized treatment plan.

At the same time,clinical trials are a key step in promoting innovation and development of cancer treatment. New Frontier combines the professional knowledge and resources of HEAL Oncology and HKIOC to deliver larger-scale and pioneering clinical trials.

New Frontier's Presence in the GBA

The GBA is of high priority to New Frontier. Its current footprint in the region includes HEAL Medical Group,New Frontier Shenzhen United Family Hospital ("SZU"),Guangzhou United Family Hospital ("GZU"),and HKIOC; collectively referred to as "New Frontier Greater Bay Area Healthcare",forming the backbone of the regional medical network.

1) HEAL Medical Group is comprised of three specialty medical centres that provide patients with comprehensive medical services,including oncology,surgical intervention,internal medicine,TCM,fertility preservation,etc.

2) SZU is the first Hong Kong-funded private international hospital in Shenzhen,located in the CBD district of Futian. SZU has a multilingual medical team,24-hour hotline,as well as bilingual medical reports to cater to regional medical tourism. In addition,many Hong Kong doctors have obtained mainland practicing licenses and attend medical sessions at SZU to bolster the clinical capability.

3) GZU,located in Haizhu district,is New Frontier's first hospital in the GBA. Services covered include internal medicine,general surgery,obstetrics and gynecology,pediatrics,general practice,dermatology,dentistry,rehabilitation care,etc.

4) HKIOC possesses a full suite of and advanced imaging and radiotherapy equipment,PET-CT,CT,MRI,3D mammography,ultrasound,linear accelerator (Linac),and TomoTherapy.

In addition to its comprehensive clinical services,New Frontier is steadfast in its commitment to furthering medical education and research. By fostering collaborations with esteemed academic and research institutions both domestically and internationally,the group actively engages in a range of medical education and research initiatives.

Mr. Antony LEUNG,the Co-Founder and Chairman of New Frontier Group,remarks,"Given the chronic and growing demand for quality cancer care in China,I'm grateful that we have found a partner who not only is a sector leader but also shares our corporate mission of Doing good and Doing Well,with Love."

Carl Wu,Group CEO & Co-founder of New Frontier Group,expresses,"We will leverage synergies across our subsidiaries to create an advanced and robust healthcare ecosystem. The acquisition of HKIOC gives us incredible depth of expertise to treat the most common,as well as the rarest forms of cancer. Our investment in research and academia will accelerate our effort in tackling the greatest health crisis of our time."

Prof. Ronnie Poon Tung-ping,founder of Hong Kong Integrated Oncology Centre,believes,"I am thrilled that HKIOC has joined New Frontier Group,a moment that fills the entire team with tremendous pride. This partnership is a recognition of our accomplishments and growth as a comprehensive oncology diagnostic and medical center since our establishment in 2015. The integration into New Frontier Group presents a significant opportunity to contribute to the medical development of the Greater Bay Area,and I hope our centres,along with the entire group,can lay a solid foundation in oncology for decades to come."

About New Frontier Group

New Frontier Group was founded in 2016 by Mr. Antony Leung,former Financial Secretary of Hong Kong,and Mr. Carl Wu,former Managing Director at Blackstone,with the goal of addressing some of the most pressing healthcare needs today. In the short time since its founding,New Frontier Group has become one of the leading private healthcare service providers in Greater China,offering a comprehensive range of services that span across the entire healthcare continuum. This includes general and specialty healthcare,home care,health insurance services,health technology,and more. Currently,the group operates 32 hospitals with over 9,000 beds,serving 77 cities. It is supported by a dedicated workforce of approximately 12,000 full-time staff,including over 3,000 doctors and more than 2,000 nursing staff. This year,the group expects to exceed 12 million patient visits,with in-patient days totaling 1.9 million. Please visit https://www.new-frontier.com/en/ for more information.

About United Family Healthcare

United Family Healthcare (UFH),a New Frontier Group subsidiary,is an international hospital and clinic network that has been providing private,premium healthcare in China since 1997. Today,UFH has established a strong presence in the region,operating 10 hospitals,1 internet hospital,and 24 clinics across the country. The UFH team currently comprises approximately 1000 full-time doctors from over 30 countries and is supported by a dedicated group of over 1,500 nurses. Please visit https://ufh.com.cn/en/ for more information.

About HEAL Oncology

HEAL Oncology Limited,also a New Frontier Group subsidiary,is a private oncology centre located in Hong Kong's Central district. The centre offers an extensive array of oncology services accompanied by a diverse range of allied health services. HEAL Oncology is an essential component of HEAL Group,which also includes HEAL Medical Centre (a multispecialty clinic) and HEAL Fertility Centre (an assisted reproductive medicine clinic). These centres are all located within walking distance of each other for convenient patient access,facilitating a multidisciplinary approach to provide comprehensive and personalized treatment. Please visit www.heal-medical.com for more information.

About Hong Kong Integrated Oncology Centre

Established in 2015,the Hong Kong Integrated Oncology Centre (HKIOC) and the Hong Kong Integrated Diagnostic Imaging Centre have been dedicated to providing quality and holistic multidisciplinary specialist services for cancer diagnosis,treatment and wellness services.Since 2016,HKIOC has forged a strategic partnership with the Hong Kong Adventist HospitalOncology Centre (HKAOC),introducing the concept of day care cancer treatment that entailsintegrated services across disciplines. Cancer patients could choose to receive treatment inHKIOC's day care centre at their convenience,and be referred to HKAOC located in StubbsRoad if needed. With a range of state-of-the-art radiotherapy including TomoTherapy and Y90 radioembolization,HKAOC provides quality in-patient services and emergency hospitalcare.Please visit www.hkioc.com.hk for more information.