The group adopted musculoskeletal pain management following its listing on the SGX Catalist board.
Asian Healthcare Specialists Limited (AHS) won in the Health Products & Services category of Singapore Business Review’s Listed Companies Awards 2019, which recognises innovative projects and best practices with a significant business impact.
The medical services group made its mark over the past year by adopting holistic management of pain in musculoskeletal care following its listing on the Singapore Exchange’s Catalist board in April 2018. Within the same year, AHS acquired an anesthesia arm, Asian Anaesthesia Care Pte. Ltd., and set up a physiotherapy practice to complement its core business activities.
“Our immediate aim was to be a one-stop integrated healthcare provider for all musculoskeletal-related medical care, including post-surgery rehabilitation services such as physiotherapy as well as other ancillary services such as pain management,” said Dr. Chin Pak Lin, CEO of Asian Healthcare Specialists. “The acquisition and establishment of the physiotherapy practice are the building blocks towards establishing a comprehensive pain management centre.”
The company – which treats a variety of medical problems from fractures and torn ligaments to compressed nerves and accident- and sports-related injuries – said the acquisition of the anaesthesia arm helped boost the company’s profits, with unaudited financial results for the half-year ended 31 March 2019 recording a 5.2% revenue growth.
AHS, in its recent financial results presentation, reckoned that one of its key competitive strengths is that its focus on orthopaedic services positions it well to capture an expected growth in demand across Singapore amidst an ageing population, rising income levels and more insured patients. With the total number of elderly citizens in Singapore aged 65 and above expected to rise to 900,000 by 2030, there will likely be a corresponding increase in the incidence of musculoskeletal disorders, citing data from the Institute for Health Metrics and Evaluation.
The company added that its experienced medical specialists, who have 15 to 26 years of clinical experience, are highly knowledgeable in advanced equipment and keep them ahead of the pack.
The newly acquired anaesthesia arm is headed by Dr. Lim Tet Chen Roy, a specialist anaesthesiologist who previously joined the National University Hospital of Singapore as a consultant for general anaesthetic services for operations and appointed as a clinical tutor by the National University of Singapore.
Dr. Chin Pak Lin, a previous consultant at the Singapore General Hospital, for example, is the primary user of one of two ROBODOC systems in Singapore, which helps provide higher precision, less damage and faster recovery rates for procedures.
AHS operates at four clinics across Singapore where its medical specialists provide a wide array of general and subspecialised orthopaedic, trauma and sports services, such as knee and hip replacements, sports medicine and surgery, spine surgery, foot and ankle surgery and minimally invasive orthopaedic procedures.
Looking ahead, the company not only plans to establish a pain management centre, but to continue to broaden its range of healthcare subspecialty services to the public.
The Listed Companies Awards, presented by Singapore Business Review, was held last 11 July 2019 at Conrad Centennial Singapore.
This year’s nominations were judged by a panel consisting of Henry Tan, Managing Director, NEXIA TS; Choo Eng Chuan, EY Asean Markets Leader and Partner, International and Corporate Tax Services, Ernst & Young Solutions LLP; Ng Jiak See, Executive Director, Head of Corporate Finance Advisory, Deloitte Singapore & Southeast Asia; and Toh Kim Teck, Assurance Partner, Foo Kon Tan LLP.
Check out the event photos during the awards night here.
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