Established in 2007 under the name "ANKH" (A New Key to Health), Anew Health specializes in non-invasive pain management therapies. Through its flagship RDS+ platform, the company integrates Traditional Chinese Medicine (TCM) concepts with innovative energy-based therapies, delivering effective pain relief and promoting overall vitality restoration. Core offerings include laser treatments, weight management programs, and functional enhancement therapies. The company's strategic presence in high-profile commercial areas in Hong Kong enhances accessibility to its services, reinforcing its patient-centered operational model.
Supporting its advanced treatment protocols, Anew Health utilizes a total of 302 energy-based treatment devices across its service centers. These devices, sourced internationally from Europe, South Korea, and Japan, employ technologies such as laser, radiofrequency, heating, ultrasound, and microcurrent therapy. Each device carries certifications such as CE, ISO, or GMP, ensuring high standards of safety, reliability, and clinical effectiveness.
Core Offerings:
- Pain Management Services: Pain management treatments, weight management programs, and functional enhancement therapies.
- OTC Products: Topical pain management related supplements (e.g., ANKH Skin Power, 30s Ice & Warm Rescue) and dietary related supplements (Super 17 Probiotics, 40+ Knee Expert).
- Premium Clientele: High customer satisfaction rate among 17,300+ patients treated in FY2024 across three Hong Kong clinics.
Driving this mission is a seasoned senior management team composed of industry veterans with deep expertise in pain management and the broader health and wellness space. United by a shared commitment to helping individuals live healthier, happier lives, the team continues to steer Anew Health toward sustainable growth and innovation.
This combination of factors positions Anew Health as a leader in the rapidly growing Hong Kong pain management market.
In FY2024, Anew Health reported revenues of 40.8 million, a significant increase from 27.3 million in FY2023, demonstrating operational efficiency and growing demand for its services. The company's net income also soared to 11.73 million, further solidifying its market position. During the first half of FY2024, Anew Health generated 19.5 million in revenue, representing a 2.7% year-over-year increase. The non-pharmaceutical pain management market is projected to grow substantially in the coming years, with forecasts indicating an 8.7% compound annual growth rate (CAGR) in Hong Kong's market.
- Average Treatment Value: Increased 47.7% to HK$5,067 in FY2024.
- Gross Margin: 72.3%, reflecting premium service pricing.
- Net Income: Surged 122.1% to $11.73 million in FY2024.
Figure 1: Annual revenue surged to $40.8M in FY2024, up 49.6% YoY.
Counter-cyclical Growth Potential
The pain management industry demonstrates notable resilience with counter-cyclical traits, particularly evident in Hong Kong’s evolving market dynamics. Despite the retail sector’s downturn, exacerbated by cross-border consumer spending shifts toward mainland China, specialized pain management centers have defied this trend. These entities have capitalized on an underserved market, driven by rising awareness of chronic pain conditions and an aging population seeking non-pharmacological interventions. Expansion efforts, such as the establishment of new branches, underscore institutional confidence in the sector’s long-term trajectory. Industry analysts highlight untapped demand, fueled by demographic shifts and evolving healthcare priorities, positioning pain management as a high-growth segment.
Global Expansion in Booming Health and Wellness Sector
As Anew Health sets its sights on further expansion into the health and wellness sector, the company has achieved strong organic growth over the past two years, with full-year revenue in 2024 rising nearly 50% compared to 2023. The company aims to bolster its market standing through continued organic growth, targeted mergers and acquisitions, and strategic investments in service centers within high-growth global markets. This approach aligns with broader trends in healthcare consolidation and international expansion, driven by rising demand for specialized services.
As part of its global growth strategy, the company also plans to expand its international footprint by targeting markets such as Singapore, Malaysia, Japan, South Korea, China, Canada, and the United States. These regions are either familiar with TCM concepts or have significant Asian populations who recognize and value its benefits. Anew Health believes this expansion will help diversify its customer base, enhance brand awareness, and broaden its portfolio of services on an international scale.
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