Raffles Medical H1 profit climbs 51.3% with comeback in medical tourism

RAFFLES Medical Group reported a profit of nearly S$59.7 million for the half year ended Jun 30, a 51.3 per cent rise as compared with S$39.4 million a year ago. (see amendment note)

This came largely on the back of higher revenue with a comeback in medical tourism as Singapore reopened its borders, said the healthcare services provider in a regulatory filing on Monday (Aug 1).

The rise in the number of local and foreign patients seeking treatment has more than offset the decrease in revenue arising from Covid-19-related services, said Dr Loo Choon Yong, executive chairman of Raffles Medical Group , in an earnings call.