SINGAPORE (Nov 13): Health Management International reported a more than doubling of its 1Q18 earnings ended Sept to RM13.8 million ($4.5 million) from RM6.2 million a year ago.
This was the result of the consolidation exercise completed on March 27, which means 100% of net income is now attributable to HMI shareholders, coupled with strong operational performance.
HMI is the regional private healthcare provider that owns two tertiary hospitals in Malaysia and a healthcare training centre in Singapore.
The group’s revenue increased 6.9% year-on-year to RM117.1 million, driven by higher patient load and average bill sizes at Mahkota Medical Centre and Regency Specialist Hospital.
In line with the growth in revenue, the group’s gross profit increased 7.4% y-o-y to RM40.6 million.
Backed by rising revenue intensity and effective cost management, the group’s EBITDA rose 11.0% y-o-y to RM28.7 million while EBITDA margin expanded 0.9 percentage points to 24.5%.
Group CEO Chin Wei Jia says, “To capture opportunities within medical tourism, we continue to leverage on our 16 patient referral offices across Indonesia, Malaysia and Singapore. We have also taken the initiative to broaden patient referrals to Regency and Mahkota through joint overseas marketing initiatives. Looking ahead, we remain well poised to grow our market share and attract more foreign patients to our hospitals.”
Shares in Health Management International closed at 66 cents on Monday.
