Making an organic expansion to paediatrics
Although Singapore O&G's paediatrics segment is making losses, its CEO believes revenue growth will increase within a few years.
Add BT as a preferred source
ABOUT two years after diversifying into paediatrics, Singapore O&G is still making losses in the segment. But chief executive Ivan Lau says it is normal for new businesses to take a couple of years to break even. He believes that moving forward, the anticipated growth of the paediatrics segment will "shift the pie" of the group's revenue mix.
In an interview with The Business Times, Dr Lau, appointed CEO last May, says: "You will find that after a while, the pie will grow bigger and in terms of the proportions, there may be some shifts. Obstetrics and gynaecology (O&G) will still form the core, because that's how the organisation started, and that's our passion. We are still focused on women and children care for sure."
In FY18, the group's net profit rose 7.5 per cent to S$9.1 million, on the back of a 16 per cent increase in revenue to S$34.7 million. O&G still contributed the bulk - three-fifths - of its total revenue at S$21 million. Dermatology made up 22 per cent or S$8 million; cancer-related conditions at 15 per cent or S$5 million; and paediatrics was the smallest at 3 per cent or about S$1 million.
Copyright SPH Media. All rights reserved.
