HEALTHCARE | Staff Reporter, Singapore

IHH Healthcare to benefit from two new hospitals

It recently launched GHK and Acibadem Altunizade.

Whilst IHH Healthcare incurred startup costs from the opening of Gleneagles HK (GHK) and Acibadem Altunizade hospitals in March, analysts are optimistic for a positive ramp up.

According to John Cheong, GHK has shown good progress financially as the EBITDA loss narrowed MYR12m (US$2.8m) QoQ to MYR72m (US$16.9m) in 2Q17, and it has started to take on high intensity cases.

"In addition, GHK has been accepted by several insurance groups and it expects to start accepting their patients in the next few months," analyst said.

Meanwhile, Acibadem Altunizade has reached positive EBITDA of MYR16m from a MYR5m loss in 1Q17, thanks to the transferral of high intensity cases from two nearby Acibadem hospitals.

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