It’s a year of integration and expansion for the firm.
Singapore’s largest private healthcare provider is heading towards an anemic year, but that doesn’t mean they won’t be aggressive, analysts say.
According to an analyst report from Maybank Kim Eng, the year will be one for integration and expansion for Raffles Medical, as it streamlines newly-acquired entities, ramp up new projects, and hire staff ahead of its hospital extension and new Shanghai Hospital.
Maybank Kim Eng also said it expects a softer year for medical tourism, as the SGD grows stronger and oil prices remain depressed.
“Against the lacklustre environment, we remain confident in the longer-term outlook, as Raffles Medical has taken active steps to attract more foreign patients from non-traditional markets such as Vietnam, Cambodia and China, via International SOS,” Maybank Kim Eng said.
The report adds that for its China expansion, Raffles Med management highlighted its comprehensive staff strength of 50 doctors in the country, recruitment, training and patient referral strategy.
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