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Six firms have been awarded contracts to provide Covid-19 swabbing and testing services at regional screening centres and dormitories, as Singapore taps the private sector to ramp up its coronavirus testing capacity.
The six healthcare and diagnostics firms that will provide these services - Raffles Medical Group, MHC Medical Network, Minmed Group, Q& M Dental Group subsidiary Acumen Diagnostics, Healthway Medical Group and Fullerton Healthcare Group - were selected from a pool of 18.
The six healthcare and diagnostics firms that will provide these services - Raffles Medical Group, MHC Medical Network, Minmed Group, Q& M Dental Group subsidiary Acumen Diagnostics, Healthway Medical Group and Fullerton Healthcare Group - were selected from a pool of 18.
See today' s news " Singapore approves storage of Pfizer-BioNTech COVID-19 vaccine at refrigerator temperatures" . That mean all clinics can start giving the vaccine, great news to RMG as they have the most number of clinics.
annebelinda ( Date: 18-May-2021 09:06) Posted:
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Where you get such great news! More business for RM means more revenue and better results next year. Just wonder why into vice which only rich can afford?
desmlee ( Date: 17-May-2021 01:07) Posted:
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A nurse from Raffles Hospital has been tested positive...
Reporting to sick bay again...
halleluyah ( Date: 08-May-2021 20:43) Posted:
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Tiok covid liao....
James2312 ( Date: 05-May-2021 09:41) Posted:
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Raffles Hospital confirms that an individual who was a patient at our hospital on 5 May 2021 has tested positive for Covid-19.
We are working closely with MOH on contact tracing and activating our infection control protocols while ensuring the patient is well cared for and all affected staff are safe.
All RMG staff who have been assessed to be of close contact to the affected individual by MOH have been put on quarantine immediately and swabbed as a preventative measure.
We are providing assistance to all RMG staff on-ground and have asked staff to monitor their health closely and have completed deep-cleaning and disinfection of all affected areas.
We are working closely with MOH on contact tracing and activating our infection control protocols while ensuring the patient is well cared for and all affected staff are safe.
All RMG staff who have been assessed to be of close contact to the affected individual by MOH have been put on quarantine immediately and swabbed as a preventative measure.
We are providing assistance to all RMG staff on-ground and have asked staff to monitor their health closely and have completed deep-cleaning and disinfection of all affected areas.
Hmm... don' t understand why their stock price not increasing like other medical stocks..
Wow! First time, I boughty a share that doesn' t go down or go up. SOLID, man!
Thank you!
SuperLuckyCorn ( Date: 27-Apr-2021 09:53) Posted:
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buay gan. 2 cents.
Was expecting 2.5
Was expecting 2.5
2ct dividend, XD 10th May 2021 2021
James2312 ( Date: 27-Apr-2021 09:12) Posted:
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Can' t seem to find anything on the AGM yesterday. Was there any dividend dates announced?
i think the dividend date will be out soon 
Growing interest in Raffles Medical as market factors in recovery
Its shares hit a new 52-week high of S$1.19 on Tuesday RHB upgrades company to ' buy' from ' neutral'
SHARES of Raffles Medical Group hit a new 52-week high of S$1.19 on Tuesday as the market begins to factor in a recovery in its operations and revenue. And the strength in sentiment looks set to continue.
RHB on Wednesday upgraded Raffles Medical to a " buy" from " neutral" , with a higher target price of S$1.29 compared to S$0.91 previously, on expectations of business returning to normal for the private medical services provider.
In a report published on Wednesday, RHB analyst Shekhar Jaiswal said he expects Raffles Medical' s recurring net profit to grow around 25 per cent per annum in each of 2021 and 2022.
Mr Jaiswal sees local patient load in Singapore returning to pre-pandemic levels in 2021 amid the resumption of deferred appointments and elective surgery. He added, however, that foreign patient demand will only return in 2022.
He also sees revenue support for the group from its support of government efforts to vaccinate Singapore residents.
Mr Jaiswal' s forecast for Raffles Medical for 2021 factors in a gradual reduction in government support as well as likely higher staff costs, in response to the government raising salaries for healthcare workers.
As for the group' s China hospitals, Mr Jaiswal expects breakeven in earnings before interest, taxes, depreciation and amortisation (Ebitda) to be achieved in the next three to four years.
He noted that the Chongqing hospital saw improvement in patient load in the second half of last year and expects this hospital to achieve Ebitda breakeven in 2022.
Mr Jaiswal pointed out that the group is looking to optimise its capital structure. He said: " The company is looking to raise debt, which will not only enable it to grow faster - either organically or inorganically - but also enhance return on equity."
Shares of Raffles Medical closed flat at S$1.17 on Wednesday, implying a price-to-earnings ratio of 32.8 times.
Bloomberg data shows four other analysts with active " buy" calls on the stock, and three " hold" calls.
nice gain after long gestation .....
i think this stock is gonna be the next rocket.
1.5 will be sick
1.5 will be sick
Broke key resistance, trending up.
Raffles Medical looks beyond Covid-19
Other than growth, its focus this year is on " regular business" and the return of patients - perhaps not just local, but foreign.
THE past year was a tale of two halves for Raffles Medical Group, which emerged from a pandemic-hit first half to manage solid growth in the second.
But while being part of the country' s Covid-19 fight may cushion the topline, the firm is not counting on such " pandemic business" , said executive chairman Loo Choon Yong as he said the group " certainly hopes to get back to our business as usual" .
Last year, Covid-19 efforts were " a significant percentage, but not a lot" of revenue, he said. And as the situation improves, pandemic-related business will reduce, he added.
Similarly, Raffles Medical' s vaccination efforts, with 13 centres now, are more about the greater good than the figures.
" It will help us at least have some topline, but compared to say a consultation, it' s not a lot of money," said Dr Loo.
" This cannot be a business," he quipped. Rather, it is a cause. " We believe in this. We want Singapore to become Covid-free as soon as possible," he said.
The Covid year
In the first half of 2020, Raffles Medical was hit by lockdowns across its network, deferments of elective surgeries, and travel restrictions that meant most foreign patients - who accounted for some 25 to 30 per cent of revenue pre-Covid - could not come.
Yet it kept busy. Doctors, nurses, and support staff joined national efforts, from border screening and testing to working at community isolation facilities.
At Raffles Hospital, beds normally filled by foreign patients did not lie empty for long. Under its Emergency Care Collaboration with the Ministry of Health, the hospital received five to six times more subsidised acute patients than usual.
The group also started new services such as Covid-19 polymerase chain reaction and serology testing.
As reopening began, " part of the work that was lost or deferred came back in the second half" , said Dr Loo.
" The second half was busy, attending to our patients who had deferred, and then some of this supporting the government' s efforts. That' s why we ended the year quite okay."
In H1 2020, revenue fell 5.4 per cent and profit after tax and minority interest (Patmi) fell 38.2 per cent. But for the full year ended Dec 31, revenue was up 8.8 per cent at S$568.2 million, and Patmi grew 9.3 per cent to S$65.9 million.
This year, the focus is " regular business" and the return of patients - perhaps not just local, but foreign.
" We hope that, as we are able to maintain our situation in Singapore, we will be able to bring back some foreign patients, especially when most Singaporeans are vaccinated and we have herd immunity," said Dr Loo.
For now, Raffles Medical has been going to them. Telemedicine services were launched in Singapore in 2019, but with Covid-19, usage shot up and foreign patients began tapping these too, from teleconsultation to medicine delivery.
" The money from this is not significant," he said. But it lets the group stay in touch with and support patients: " It' s just being practical, (using) whatever available means to make sure patients continue to be cared for."
Even as he hopes foreign patients will return, he is well aware of the uncertainty: " You cannot count on it."
Going for growth
Nonetheless, Raffles Medical is optimistic. From this financial year, it is consolidating interim and final dividends into a single annual core dividend of up to half its average sustainable Patmi, " in recognition that the Group is in a growth phase" .
Raffles Medical' s capital structure has been " very conservative" , said Dr Loo. " We are hardly geared. So we' ll go and borrow, if we need to borrow, for our capex, so that our balance sheet will be a bit more efficient."
To enhance earnings per share, it might also buy back shares, he noted. And while the firm used to offer a scrip dividend, the Board decided - after feedback from smaller shareholders - to stop doing so for a while, and pay out a cash dividend instead.
There are some growth areas, said Dr Loo. At home, an ageing population presents opportunities, with boomers who are better off, more educated, and more active.
" They not only want to be free from illness, they want to be well," he said.
As Raffles Medical' s background of corporate practice means that it has mainly served the working population, the goal is to widen the clientele pool to the elderly, said Dr Loo. This involves opening more branches in residential areas, for instance.
As for whether the brand name may make the heartlands hard to conquer, he said: " We have to demonstrate, I suppose, without cheapening our brand, that it is affordable and reasonable."
With various clinics in the heartlands already, the group can expand its specialist services that are particularly " welcome in the community" such as obstetrics and gynaecology, or pediatrics, he added.
The other market is China, which was hit by strict Covid-19 restrictions but is stabilising, with expatriates - a major source of patients - returning.
Last year, the group' s outpatient clinic in Beijing was upgraded to RafflesHospitalBeijing. In the second quarter of this year, RafflesHospitalShanghai is set to open.
" Our target will be certainly all the expats, but also the locals who can afford," said Dr Loo, adding: " You go to China not to do business with expats. Even in Shanghai and Beijing, we want to break into the Chinese market."
The group' s first hospital in China, RafflesHospitalChongqing, has a more local patient profile. The experience there has highlighted the importance of understanding the local health insurance system, said Dr Loo.
Part of Raffles Medical' s strategic plan for the medium term is a joint venture health insurance company in China, he added.
" That will enable us to have a lot more patients. If we know how to serve Chinese patients, we have the whole of China to serve," said Dr Loo.
If this hit 1.25..
It will be a huge bonus man.
It will be a huge bonus man.
halleluyah ( Date: 15-Mar-2021 09:53) Posted:
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