Healthway Medical Corporation's FY2021 revenue rose 43.6% y-o-y to $139.9 million in FY2021. The increase in revenue from the Primary Healthcare Segment was driven by higher patient volumes as compared to FY2020. This was further supplemented by revenue contributions from vaccination, Covid-19 Polymerase Chain Reaction (PCR) and serology testing projects, the company said. The revenue from the Specialist Healthcare Segment increased due to higher demand for specialist services compared to FY2020, which was impacted by circuit breaker measures imposed by the Singapore Government during FY2020. The Group’s Ebitda grew 54.5% y-o-y from $14.4 million in FY2020 to $22.2 million in FY2021. Profit After Taxgrew 230.7% from $3.2 million in FY2020 to $10.7 million in FY2021. The Group’s cash and cash equivalents increased to $33.6 million.
Healthway Medical will continue to offer Covid-19 Polymerase Chain Reaction (PCR), serology and Antigen Rapid Testing (ART) across 51 of its participating Public Health Preparedness Clinics (PHPC), as regular testing remains essential in minimising the transmission of COVID-19 and managing the pandemic. Healthway Medical also runs two Quick Test Centres (QTC) where the public can take a selfadministered ART supervised by an approved COVID-19 test provider.
Strengthening the Group’s Healthcare presence Healthway Medical continues to forge ahead with its plans to expand its footprint of GP clinics and meet the growing needs of the Primary Care sector, enabling hospitals and the tertiary healthcare system to focus their resources on complex conditions and emergency cases. In September 2021, Healthway Medical invested in a Primary Healthcare chain operating nine clinics, with the majority of clinics located primarily in key locations in Singapore’s commercial business district. With this acquisition, Healthway Medical becomes the largest outpatient clinic chain in Singapore.
