Healthcare stocks are generally favoured as structural growth stories. “The globally ageing population theme, which Singapore is also experiencing, will also see higher demand for healthcare services and products, and this in turn will benefit several of the healthcare providers listed on the Singapore market,” says OCBC Group Research.
The healthcare sector is always in the news for one reason or another. Just this week, Foundation Healthcare became the latest healthcare play to be listed on the Singapore Exchange. Raising some $242 million and giving it a market cap of around $1 billion, Foundation Healthcare is said to be the largest healthcare listing since IHH Healthcare’s 2012 debut.
Foundation Healthcare is newer, and IHH Healthcare is larger, but Raffles Medical Group, another leading healthcare stock listed on the Singapore Exchange, has been on investors’ radar since its 1997 listing. Raffles Medical, which marks its 50th anniversary this year under the leadership of executive chairman Dr Loo Choon Yong, started as two clinics back in 1976. From just two clinics, the company has grown to operate in 14 cities across five countries, including three hospitals in China. “Look after patients properly, and the business will look after itself,” says Dr Loo.
