Healthway Medical Corp in the red in Q3

HEALTHWAY Medical Corp turned in a loss of S$2.82 million for Q3 2017, from a profit of S$69,000 a year ago, weighed down by higher staff costs and other operating expenses.

Revenue edged up 6.6 per cent to S$27.16 million due to higher revenue from its specialist and wellness healthcare segment.

During the quarter, staff costs rose 11 per cent to S$18.67 million, while other operating expenses climbed nearly 39 per cent to S$4.69 million.

"With the new management team, which came on board during FY2017 Q3, the group is now working hard to achieve its mission to improve its services to provide better patient care," said Healthway Medical. "The operating environment continues to remain challenging though. As a part of its endeavour to expand its clinic network and provide better patient care, the group has recently setup a new gastroenterology clinic on Nov 1."