Clean bill of health for Raffles Medical

SINGAPORE (Aug 26): OCBC Investment Research has maintained its “hold” recommendation for Raffles Medical Group with a fair value of $1.54, after taking into account the near-term cost pressures seen in its 2Q results.

However, OCBC’s analyst Jodie Foo continues to be positive on the group, noting that the group’s long-term growth potential remains robust as Singapore continues to grow as a hub for medical tourists.

For instance, Raffles Medical’s diversified international patients mix means that the impact of lower volumes of patients coming from Indonesia, would be mitigated by the higher volumes of patients from other countries like China and Indochina.

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