Healthway Medical swings back into the black in Q2

HEALTHWAY Medical posted a net profit of S$78,000 for its second quarter, reversing from a loss of S$2.62 million a year ago.

Revenue went up by 12.5 per cent to S$28.6 million, mainly due to the increase in revenue of S$1.7 million in the Primary Healthcare segment, as well as S$1.4 million in the Specialist & Wellness Healthcare segment.

No dividend was declared.

As part of its business optimisation strategy, the group said that it is "committed to reviewing the performance of its business units and rebalancing its network of clinics to continually improve operational efficacy".

The group also unveiled a refreshed look and tagline to complement the vision of a network of clinics that is "technology-enabled and hospitality-led".

"The new brand reflects the group's goal of empowering healthier lives through a renewed focus on a patient-centric approach, where patients are always at the centre of its care ecosystem," said the group.

The ongoing business optimisation measures and the rebranding initiatives will anchor the group's transformation efforts going forward, said Healthway Medical.