Eu Yan Sang
Corporate brand
UnclaimedA traditional Chinese medicine and wellness group with retail, clinic and manufacturing operations across Asia.
Last updated August 31, 2026
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Overview
Eu Yan Sang is a traditional Chinese medicine (TCM), healthcare and wellness brand founded in 1879 in Gopeng, Perak, by Eu Kong Pai, commonly known as Eu Kong. The business began as a Chinese medicine shop serving workers in the tin-mining economy. Eu Kong promoted herbal remedies as an alternative to the widespread use of opium for immediate relief from illness and physical hardship. The name combines “Yan,” associated with benevolence or humane care, and “Sang,” associated with life, livelihood or birth; together, the name conveys a mission of caring for people. After Eu Kong died in 1890, the enterprise passed to his only son, Eu Tong Sen. Although Eu Tong Sen was only 13 at the time, he later assumed active control when he reached adulthood. He rebuilt and expanded the family’s commercial interests through tin mining, rubber, property, remittances and banking, while also extending the Chinese medicine business. By the early 1910s, the family’s medicine operations had spread across Malaya, Singapore, Hong Kong and southern China, increasingly using the Eu Yan Sang name. The wider Eu family empire was divided among Eu Tong Sen’s 13 sons after his death in 1941. Most of the family businesses were sold or liquidated by 1973, leaving Eu Yan Sang as the principal surviving family enterprise. The company subsequently passed through a period of ownership and strategic uncertainty. In 1989, fourth-generation family member Richard Eu joined EYS Holdings. Lum Chang took over Eu Yan Sang Holdings in 1990 after shares held by members of the third generation were sold. Richard Eu and his cousins Robert Eu and Clifford Eu later reacquired Lum Chang’s shares in 1993 and renamed the company Eu Yan Sang International. The company became a public company on the mainboard of the Singapore Exchange in 2000. In 2016, a consortium involving The Eu Family, Temasek Holdings and Tower Capital Asia became the majority owner and took the company private through a delisting. In 2024, Mitsui & Co. and Rohto Pharmaceutical, acting through a Japanese consortium, acquired an 86% interest in Eu Yan Sang. The transaction placed the brand under Japanese consortium ownership while retaining its historical TCM identity. Eu Yan Sang’s business has expanded beyond the retail sale of raw herbs and prepared brews. Its current activities include branded Chinese medicines, supplements, health foods, wellness products, TCM consultation and treatment, and manufacturing. Its retail network spans Malaysia, Singapore, Hong Kong, Macau and mainland China, with products also sold through pharmacies, medical halls, supermarkets, airport outlets, online marketplaces and other distributors. The group operates TCM clinics and medical centres offering services such as acupuncture, tui na, gua sha, cupping and prescription dispensing. The company has also used herb-fingerprinting methods and research collaborations with tertiary institutions to assess the chemical profiles of herbs and support product and treatment development.
History
Eu Yan Sang traces its origins to 1879, when Eu Kong Pai established a Chinese medicine shop in Gopeng, Perak. The settlement was associated with tin mining, and Eu Kong observed that many mine workers relied on opium for short-term relief from health problems. His business supplied herbal remedies and positioned Chinese medicine as a more constructive form of care. Eu Kong died suddenly in 1890, leaving the enterprise to his son Eu Tong Sen. Because Eu Tong Sen was still a child, he did not take over active management until 1898. The family’s position was initially fragile, but Eu Tong Sen rebuilt its fortunes through a mixture of mining, rubber, property, remittance and banking activities. He also developed the medicine business into a regional network. By the early 1910s, the business operated in several parts of Malaya, Singapore, Hong Kong and southern China under the Eu Yan Sang name. Following Eu Tong Sen’s death in Hong Kong in 1941, his assets were divided equally among his 13 sons. Over the following decades, most of the family’s commercial interests disappeared through sale or liquidation. By 1973, Eu Yan Sang was the principal remaining family business, with the family retaining substantial control. The late twentieth century brought restructuring and a renewed effort to preserve the company. Richard Eu joined EYS Holdings in 1989. In 1990, Lum Chang assumed control after shares were sold by members of the third generation. Richard Eu, Robert Eu and Clifford Eu subsequently acquired Lum Chang’s shares in 1993, restoring family ownership and creating Eu Yan Sang International. The company listed on the mainboard of the Singapore Exchange in 2000. The public-company phase was followed by a change in ownership in 2016, when a consortium involving the Eu family, Temasek Holdings and Tower Capital Asia became the majority owner and delisted the company. During this period, Eu Yan Sang developed from a traditional herbal retailer into a broader healthcare group, adding branded supplements and wellness products, TCM clinics and manufacturing capabilities. Its operations came to include GMP-certified facilities in Hong Kong and Malaysia, retail outlets across several Asian markets, and clinical services delivered by licensed practitioners. In 2024, Mitsui & Co. and Rohto Pharmaceutical acquired 86% of Eu Yan Sang through a Japanese consortium. The acquisition marked another ownership transition for a business that had remained closely associated with the Eu family for much of its history. The operating model continues to combine consumer health products, professional TCM services, manufacturing, distribution and research-oriented product development.
- 2024
Japanese consortium acquires majority stake
[1]Mitsui & Co. and Rohto Pharmaceutical acquire an 86% interest in Eu Yan Sang.
- 2016
Delisting and consortium ownership
[1]A consortium led by the Eu family, Temasek Holdings and Tower Capital Asia becomes the majority owner and takes the company private.
- 2006
Yuen Long manufacturing plant
[1]The company invests in a Hong Kong manufacturing and extraction facility with laboratory and research functions.
- 2000
Singapore Exchange listing
[1]Eu Yan Sang International is listed on the mainboard of the Singapore Exchange.
- 1993
Fourth-generation family members reacquire the company
[1]Richard Eu, Robert Eu and Clifford Eu acquire Lum Chang’s shares and rename the company Eu Yan Sang International.
- 1990
Lum Chang takes control
[1]Lum Chang takes over Eu Yan Sang Holdings after shares held by third-generation family members are sold.
- 1973
Eu Yan Sang becomes the surviving family business
[1]Most of the wider Eu family businesses had been sold or liquidated, leaving Eu Yan Sang as the main continuing enterprise.
- 1910
Regional expansion
[1]By the early 1910s, the family’s Chinese medicine business had expanded across Malaya, Singapore, Hong Kong and southern China.
- 1898
Eu Tong Sen begins active management
[1]After reaching adulthood, Eu Tong Sen assumes responsibility for the family’s business interests.
- 1890
Eu Kong dies
[1]The founder dies and the family business passes to his son, Eu Tong Sen.
Products and positioning
A heritage-led, modernized traditional Chinese medicine and wellness brand combining retail products, clinical services, research, manufacturing and Asian cultural familiarity.
TCM · 1879
Traditional Chinese medicines
The company’s core product range includes Chinese medicinal herbs, prepared remedies, prescription-related products and herbal brews. Historically sold through Chinese medicine halls, these products now form part of a more standardized branded portfolio distributed through Eu Yan Sang shops, pharmacies, supermarkets, online channels and other retail partners.
Consumer health
Health supplements and wellness products
Eu Yan Sang has broadened its traditional herbal business into packaged supplements, health foods and wellness products. These offerings are designed for contemporary retail and consumer-health channels while drawing on traditional Chinese medicine ingredients, formulations and usage concepts.
Healthcare services
TCM clinics and medical centres
The group operates TCM clinics and medical centres in Singapore, Malaysia and Hong Kong. Services include consultation, acupuncture, tui na, gua sha, cupping and dispensing of traditional Chinese medicine prescriptions, delivered by licensed practitioners.
Manufacturing · 2006
Herbal manufacturing and extraction
Eu Yan Sang manufactures TCM and wellness products through facilities in Hong Kong and Malaysia. Its Yuen Long site includes extraction and laboratory capabilities, while the company has also used herb-fingerprinting methods to examine the chemical characteristics of individual herbs.
Brand decisions
2024
Acquisition by Mitsui and Rohto consortiumM&ABackground
The established Asian TCM brand attracted strategic investment from Japanese companies with interests in healthcare and consumer wellness.
Action taken
Mitsui & Co. and Rohto Pharmaceutical acquired an 86% interest in Eu Yan Sang.
Aftermath
The transaction transferred majority ownership to a Japanese consortium while the brand remained active in its established Asian markets.
Reported transaction value. US$516 million; reported valuation of S$808 million (2024)
2016
Delisting and private ownershipM&ABackground
A consortium sought to reinvigorate the business and consolidate ownership.
Action taken
The Eu Family, Temasek Holdings and Tower Capital Asia became majority owners and removed the company from the Singapore Exchange.
Aftermath
Eu Yan Sang continued as a privately held regional TCM and wellness group.
2000
Mainboard Singapore Exchange listingStrategyBackground
The reorganized family business pursued a public-company structure as it expanded its regional operations.
Action taken
Eu Yan Sang International listed on the mainboard of the Singapore Exchange.
Aftermath
The listing provided a public-market structure until the company was taken private in 2016.
1993
Reacquisition from Lum ChangM&ABackground
After Lum Chang took control of Eu Yan Sang Holdings in 1990, fourth-generation members of the Eu family sought to restore family ownership.
Action taken
Richard Eu, Robert Eu and Clifford Eu acquired Lum Chang’s shares and reorganized the business as Eu Yan Sang International.
Aftermath
The reacquisition returned the company to family control and preceded its later Singapore Exchange listing.
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