Information about EntrepreneurMr. Vincent Choi, aged 67, maintains his dedication and passion for excellence throughout the years, and probably still walk faster than many youngsters. He is the founder and Chairman of Vincent Medical Holdings Limited, a Hong Kong-headquartered medical device manufacturing group listed on the Hong Kong Stock Exchange.
Hong Kong was once the spearhead of industrial development in Asia. By 1980s, as there was a growing gap in cost efficiencies between Hong Kong and mainland China, factories have started to relocate, and have primarily chosen the Pearl River Delta (mainly Shenzhen and Dongguan) as their destinations due to the resemblance in language and culture. Mr. Choi is one of the many Hong Kong businessmen that embraced this opportunity.
Mr. Choi founded Vincent Raya Co., Limited in Hong Kong back in 1985, engaging in the manufacturing of a wide range of household electronic appliances e.g. hair dryer and work lamp. When they celebrated its 10th anniversary, it was clear to him that the company needed to adapt and expand into new business areas in order to remain competitive. In 1997, Mr. Choi and his former partners founded Vincent Medical, and established itself as a trusted OEM manufacturer for major international healthcare and medical devices companies. In 2002, Mr. Choi purchased his partners’ stake in the Company.
Other Interesting Facts about Entrepreneur“When my son was small, he asked me why I don’t manufacture toys or products that would make people happy (and himself in particular). He cannot see how meaningful our medical device business is to the society. And now he also shares the same feelings and obligation as a medical device manufacturer, that we are dealing with people’s lives and well-being.”
“It takes a long time to see the return on investment in medical devices, but seeing what you create is really helping patients, to me, is the most valuable and rewarding.” Mr. Choi said.
When asked about what he likes to do during spare time, Mr. Choi said he spends a lot of time in gardening around the production facility in Dongguan, China. “Gardening is a fun and relaxing way to get in touch with the nature. To me, gardening is a stress-relieving and relaxing way to get my mind off from work and business.” said Mr. Choi.
Live your life
with integrity and
Be grateful and fair to
people around you!
Company Achievements and
“I was inspired by the potential of medical devices manufacturing
and its business nature, and thus shifted the Company’s focus to
an even more meaningful and perhaps more profitable business—
medical consumables manufacturing.” said Mr. Choi.
Role as Entrepreneur
Money cannot be one’s only motivation. Mr. Choi thinks that one shall follow your passion, be passionate about your idea, and create a niche for it. The outbreak of SARS in 2003 led Vincent Medical to a new phase of development. “OEM manufacturer is no doubt a very stable business with recurring and stable cashflows. But, we do not just want to be satisfied as a “me too” company. We need to not only provide valuable services to our OEM customers, we also need to have our own intellectual properties and brands.”
Mr. Choi envisioned a transformation from traditional OEM to a technology-based medical company, and has closely monitored trends in the industry and particularly in the respiratory area. A shift in strategy, coupled with the opportunity window in 2003, helped Vincent Medical to get listed on the Main Board of the Hong Kong Stock Exchange in 2016, and has subsequently doubled its revenue supported by the launch of its inspired™ branded electronic devices.
Vision, Mission & Future PlansMr. Choi sees himself as a traditional Chinese business leader and members of the organisation as family. The Group has a flat hierarchy or management structure, as every employee can take things up directly to him or the manager in charge. “No matter how junior their role is, they may voice out and offer their ideas, and maybe even criticisms. Our culture is to encourage a cheerful, inspirational yet professional working environment where everyone can contribute.” He said.
Mr. Choi thinks that a flat hierarchy means decisions are quicker, teamwork is encouraged, employees are more involved and participative, and everyone feels responsible and takes account for every action and decision that is taken by the organisation.
Going forward, Mr. Choi expects his team to embrace the passion and responsibility as a medical device company, and to take the company to the next level. Management team will set goals and communicate their expectation with the entire team. “I want to hold people accountable to the level that I hold myself accountable as an entrepreneur. While it seems demanding, I believe this is the way to drive continued excellence amid an ever-changing market environment.” Mr. Choi concluded.