News

Healthcare

Staff Reporter

, Singapore

Published:

9 years ago

Here’s why Raffles Medical Group is heavily dependent on its overseas businesses

Local competition heats up as Singapore boosts public healthcare.

Raffles Medical Group (RMG) has to take its overseas expansion plans seriously if it were to prevent any ill effect a risky medical tourism sector has for its long term growth potential.

OCBC believes Raffles Medical Group cannot only depend on local patients and medical tourism as business stimuli. This is because improving standards and on-going transformation for Singapore’s public healthcare sector toughened competition for the private sector.

The group’s long term profitability will rest heavily on its overseas businesses.

“We understand that the clinics under International SOS (MC Holdings) and its subsidiaries (MCH) have been doing well in its countries, including Cambodia and Vietnam, OCBC said.

The group’s Shanghai hospital project is also slated to be ready in 2018. Execution remains a key factor to success in China, and RMG’s management strength gives some assurance to this project, OCBC added.

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