Raffles Medical pins hope on new hospitals in China for growth

Singapore

IN line with efforts to diversify its business, mainboard-listed Raffles Medical Group has pinned its hopes on the two new hospitals that are under construction in China as the private healthcare provider struggles to grow at home, even as it remains profitable.

Its group executive chairman Loo Choon Yong on Monday pointed out at a briefing that the new hospital openings in China "will be very impactful" compared with the clinics business, which has a smaller impact on earnings.