Weak medical tourism hits RafflesMed Q1 revenue
Revenue dips 1.7%; despite lower wage credit, net profit edges up to S$15.55m as private healthcare operator contains costs
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Singapore
REFLECTING the tepid state of Singapore's medical tourism, private healthcare provider Raffles Medical Group registered a 1.7 per cent year-on-year dip to S$114.9 million in first-quarter revenue, with net profit up just marginally for the three months ended March 31, 2017.
In past quarters, medical tourists accounted for a third of the group's patients. This has now gone down to "20-odd per cent".
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