Kerry Logistics Network Limited (Kerry) announced the acquisition of a majority stake in Pro-Med Technology Ltd (Pro-Med), a supplier of rehabilitation equipment based in Hong Kong.

In a statement, it said this move will further broaden Kerry's exposure in the medical field and strengthen its service capability in the medical equipment distribution business under the Kerry Medical brand.

The cost of the transaction was not disclosed.

Healthcare sector expansion

Kerry said it will support Pro-Med to grow in the rehabilitation device sector with KLN's resources, including those of Kerry Medical and Kerry Pharma, in terms of customer base, logistics, and reputation.

"To welcome Pro-Med to KLN marks our determination to expand in the healthcare sector," said Samuel Lau, deputy managing director - Integrated Logistics of KLN.

"For the last two years, KLN's strength in pharmaceutical and medical logistics was one of the reasons we were able to contribute to managing a global health crisis. We are eager to expand our portfolio in the distribution of medical equipment and we are looking to support Pro-Med’s regional expansion," Lau added.

Kerry noted that with the addition of Pro-Med to its portfolio, KLN can further diversify its product offerings and extend into the service industry.

Founded in 1999 and managed by registered physiotherapists, Pro-Med mainly supplies a wide range of innovative and high-quality rehabilitation equipment, technologies, and solutions from renowned manufacturers from all over the world to hospitals and clinics, elderly centers, universities and fitness centers in Hong Kong.