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IHH, Raffles Medical likely to be hit by fall in medical tourists: CGS-CIMB

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IHH, Raffles Medical likely to be hit by fall in medical tourists: CGS-CIMB

Jeffrey Tan Published on Fri, Jun 12, 2020 / 2:25 PM GMT+8

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SINGAPORE (June 12): Given the hit to medical tourism due to measures to curb the spread of Covid-19, hospital operators are likely to be more severely impacted in 2Q, according to CGS-CIMB Research.

This could adversely impact IHH Healthcare, which has 30% of its Singapore revenue contribution derived from medical tourism.

Similarly, Raffles Medical Group could be hit, given that overseas patients contributed on average 20% to 25% of its total hospital revenue in Singapore in FY19.