HEALTHCARE | Staff Reporter, Singapore

IHH Healthcare succumbed to $24.81m loss in Q3

It was hit by foreign exchange losses.

IHH Healthcare was hit by a loss of $24.81m (MYR104.1m) in Q3 from a profit of $19.57m (MYR82.1m) in Q3 2017, an announcement revealed. Meanwhile, revenue marginally rose 1% YoY to $667.46m (MYR2.8b).

The firm said that their operations were generally affected by the Malaysian ringgit’s strength against the currencies of countries where they operate.

Parkway Pantai saw a revenue increase of 4% to $435.30m (MYR1.82b) from $420.79m (MYR1.76b) in Q3 2017. The firm attributed their arm’s revenue rise due to Parkway Pantai’s sustained organic growth through its existing operations, paired with its hospital improvements in Malaysia and the higher contribution from Gleneagles Hong Kong.

For its Singapore hospitals, Parkway Pantai’s inpatient admissions slipped 0.74% to 19,217. Nonetheless, revenue per inpatient admission climbed 8% to but average revenue per inpatient admission grew 8.0% to $7,480 (MYR31,375).

Parkway Pantai’s inpatient admissions in Malaysia inched up 3% to 49,988 whilst revenue per inpatient admission grew 2.6% to $1,592 (MYR6,678) with the influx of more complex cases.

Meanwhile, Acibadem Holdings’ revenue in Q3 dipped 3% YoY to $219.94m (MYR922.5m). Its inpatient admissions strengthened 7.5% to 54,798 on the back of contribution from Acibadem Altunizade paired with the improvements of its hospital operations including in Bulgaria. Revenue per inpatient admission jumped 31.5% to $1,689 (MYR7,085) pushed by price adjustments for patients on private insurance and paying out-of-pocket as well as the influx of complex cases and foreign patients.

For IMU Health, revenue grew 7% to $15.35m (MYR64.4m) supported by the higher student intake and population for certain courses over the year.

“The group will look to strengthen its service offerings and focus on building its Centres of Excellence, especially in high acuity services, to drive revenue intensity across all its hospitals,” the firm said, adding that it will push to ramp up newer hospitals to further optimise its operations.

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