- Business
- Pine Care Group Limited (1989.HK) provides elderly home care services in Hong Kong, operating a network of residential care homes for the elderly including eight EA1 care and attention homes under the Enhanced Bought Place Scheme, upscale facilities in its Silverage Collection comprising Pine Care Place in Yuen Long, Pine Care Point specializing in dementia care in Shek Kip Mei, and Pine Residence in Causeway Bay; it offers comprehensive senior care services such as residence, professional nursing and caretaking, nutritional management, medical care, physiotherapy and rehabilitation, psychological and social support, individual care plans, and sales of related goods including diapers, nutritional products and medical supplies. The company, founded in 1989 and headquartered at G/F-3/F, 1 Koon Wah Lane, 68-72 Yuk Wah Street, Tsz Wan Shan, Kowloon, Hong Kong, serves customers primarily under government-subsidized schemes like the Residential Care Service Voucher Scheme and targets elderly residents across Hong Kong Island, Kowloon and the New Territories. A subsidiary of Diamond Ridge Holdings Limited, it focuses on the healthcare facilities and services sector with approximately 500 employees. In 2022, Chinachem Group acquired a majority 56.15% stake for HK$451.2 million from entities linked to the Tang family to expand into healthcare and senior living; Chinachem became the controlling shareholder, introducing new board members with property and asset management expertise; Pine Residence launched operations in December 2022 as the latest Silverage Collection addition equipped with gerontechnology; the group disposed of its PRC operations via Pine Care Yada Elderly Services in 2022 and terminated its Patina Wellness joint venture lease in July 2022; it renewed key leases in April 2023 for two elderly homes with aggregate base rent of HK$87.5 million.