Raffles Medical’s 2Q earnings rise 4.5% to $16.7 mil on higher patient load

SINGAPORE (July 25): Raffles Medical Group's earnings rose 4.5% to $16.7 million in the second quarter ended June 30, 2016, from $15.9 million in the previous corresponding quarter.

Revenue grew 19.8% to $119 million in 2Q from a year ago. All divisions contributed positively, with revenue from Healthcare Services and Hospital Services increasing by 42.2% and 7.9% respectively.

The strong growth in the group’s revenue was mainly due to higher patient load, an expanding Raffles Medical clinic network, higher revenue contributed by more specialist consultants as well as the newly acquired International SOS (MC Holdings) Pte Ltd and its subsidiaries (MCH).

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