News

Healthcare

Staff Reporter

, Hong Kong

Published:

5 years ago

Icon Group acquires Hong Kong oncology clinic SunTech Medical

It is keen to make inroads into the ageing city.

Hong Kong oncology-focused group SunTech Medical Group has been acquired by Australian cancer care company Icon Group for an undisclosed amount, an announcement revealed.

The move gives Icon Group, which is backed by investment banking firm Goldman Sachs, a berth in the island-city’s cancer-care market. Cancer-related spending in Hong Kong is expected to double to over $24b by 2026 due to an ageing population and increase in medical tourism from mainland China, according to the press release.

The acquisition adds to Icon Group’s Asian portfolio, which includes cancer centres in Singapore and a partnership with Mount Alvernia Hospital. In mainland China, Icon has partnered with Sanbo Hospital Group and United Family Healthcare Group to introduce radiation oncology services in the region.

The acquisition is expected to be completed in October.

Top News

HKEX launched Order Routing Service on Integrated Fund Platform

The move addressed some long-standing operational challenges.Hong Kong Exchanges and Clearing Limited (HKEX) launched the Order Routing Service that connects fund distributors and transfer agents on its Integrated Fund Platform (IFP).The new service is based on the Fund Repository system and helps transform the fund order placement process into a seamless and integrated system.Supported by the data network from Shenzhen Stock Exchange, the service promotes better efficiency and collaboration across the fund distribution network by enhancing communications between fund distributors and agents.IFP also welcomes an initial cohort of 33 distributors, transfer agents and fund houses.

Markets & Investing

15 hours ago

HKTDC signs first MOU with Singapore-based bank

The partnership also aims to generate job opportunities and strengthen communities across both regions.The Hong Kong Trade Development Council (HKTDC) signed a Memorandum of Understanding (MOU) with United Overseas Bank Hong Kong Branch (UOB Hong Kong) at the ASEAN Conference 2025 in Singapore, a first of such a partnership for Hong Kong.The MOU aims to strengthen regional ties and promote sustainable growth by leveraging UOB’s extensive regional network and financial expertise, alongside HKTDC’s strengths in trade promotion, to access new markets, resources and professional knowledge.The MOU also promotes local enterprise development and economic resilience by matching local value chains with foreign direct investments(FDI).

Financial Services

15 hours ago

OCBC Bank Hong Kong sets up team to support entrepreneurs

OCBC Group is aiming to disburse S$5b in loans to entrepreneurs by 2028

15 hours ago

Gov’t to resume land for technopole, conservation park

The land will revert to and vest in the government on 11 October.

Commercial Property

21 hours ago

Exclusives

Stablecoins bill brings stricter oversight and opportunity to Hong Kong

The digital tokens could support cross-border payments and smart escrow.

1 day ago

Fewer but bigger deals push Hong Kong M&A to 10-year peak

Companies are focusing on scale, efficiency, and long-term positioning.

Markets & Investing

4 days ago

Tougher foreign hiring rules may strain workforce planning

Hong Kong’s catering industry is expected to be hit the hardest.

HR & Education

Ignoring seniors could cost retailers big

The new generation of older adults in Hong Kong consume more.

Retail

Event News

Hong Kong Business Greater Bay Area Enterprise Awards 2025 Winner: Simon Huang of Plaza Premium Group

Simon Huang, Managing Director at Plaza Premium Group, highlights how the Smart Traveller platform was born from a mission to enhance travel experiences.