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DBS maintains ' buy' on IHH Healthcare with slightly raised target price of $3.39
Amanda Tan of DBS Group Research has maintained her " buy" call on IHH Healthcare following its 1QFY2026 results, which showed " steady" core earnings growth, although somewhat blemished by unfavourable forex.
For the three months to March, IHH reported earnings of RM545 million, an increase of 5% y-o-y, in line with expectations. Revenue in the same period was up 3% y-o-y to RM6.5 billion.
In Malaysia, the company recorded a 16% improvement in its ebitda, with revenue up 7%. Even though inpatient admissions dropped 3% supposedly due to a longer holiday season, ebitda margin was held at 26% and IHH is guiding for this metric to maintain at the mid-20s.
IHH was able to generate a 12% increase in inpatient revenue per admission, supported by higher-acuity cases, growing foreign patient demand and continued double-digit daycare growth. Foreign patients contributed 15% of Malaysia revenue in 1Q26.
India did well with ebidta up 26% and revenue up 18%, due to more inpatient admissions and more revenue on average. IHH' s two hospital brands in India, Gleneagles and Fortis are seeing better integration which suggests further upside from procurement, IT and management synergies.
Turkey & Europe recorded strong growth with revenue and ebitda up 45% and 73% respectively in constant currency. Hong Kong was more muted with revenue up 2% and ebitda down 8%.
In Singapore, the numbers were affected by what Tan calls a " structural shift" towards public healthcare, softer medical tourism numbers because of more expensive airfares and a weaker rupiah.
Revenue was down 7% and ebitda down 13%. Even so, with the refurbishment of Mount Elizabeth completed and occupancy set to improve, IHH' s Singapore operations are seen to bottom out and recover in the second half of the year.
IHH' s management reaffirmed overall FY2026 revenue growth guidance of 10&ndash 12% and ebitda margin of between 22&ndash 24%, underpinned by recovering volumes, tighter cost control and better use of existing assets.
Cost inflation is also being monitored closely, particularly for drugs, consumables, shipping and insurance, though one-to-two-year rate contracts, group procurement and longer-term energy contracts provide some near-term protection. Forex remains more of a reporting headwind, as earnings translation is unhedged, says Tan.
All in, Tan has adjusted her target price slightly from $3.26 to $3.39.
IHH Healthcare' s Singapore quoted shares closed at $2.85, down 2.06%, while its Bursa quoted shares were up 0.11% to RM8.99.
IHH Healthcare Q1 net profit edges up 3% to RM528 million
Foreign currency translation differences set the group back by RM796 million during the quarter
[SINGAPORE] Integrated healthcare operator IHH Healthcare : Q0F 0% on Tuesday (May 26) reported a 3 per cent year-on-year rise in net profit to RM528 million (S$170.1 million) for its first quarter ended Mar 31.
Revenue came in at RM6.6 billion, up 4 per cent year on year. The group attributed this to &ldquo sustained demand for quality healthcare services, a case mix of more acute patients and price adjustments to counter inflation&rdquo .
It added that the consolidation of Bayindir Healthcare, which it acquired in July 2025, also factored in the top-line growth.
Earnings per share came in at RM0.0598, up from RM0.0583 in Q1 FY2025. No dividend was declared, unchanged from a year earlier.
IHH Healthcare incurred a loss of RM796 million in foreign currency translation differences from foreign operations in Q1, reversing from a gain of RM53 million a year earlier.
The sum arose &ldquo mainly from the translation of the net assets of its Singapore, India, Turkey and Europe operations&rdquo , it explained. The group has a presence in 10 countries.
The group added that its reported financial position as at Mar 31 was affected by movements in the ringgit it noted that the Malaysian currency had strengthened against the Singapore dollar and Turkish lira during the period.
Nonetheless, the &ldquo strength of (its) diversified portfolio mitigated translation impact from a stronger ringgit&rdquo , it said.
IHH Healthcare highlighted that, on a constant-currency basis and excluding exceptional items, its Q1 core net profit would have been RM545 million, up 5 per cent year on year.
Dr Prem Kumar Nair, the group&rsquo s chief executive officer, said that the group&rsquo s &ldquo steady growth&rdquo during the quarter came &ldquo on the back of strong performances in Malaysia, Turkey and Europe, and India&rdquo .
Malaysia was a key growth driver in Q1, as the group &ldquo continued to increase medical tourism share and improve revenue intensity, while expanding its capital-efficient daycare model&rdquo in the country.
Turkey and Europe, meanwhile, booked &ldquo strong growth across all key metrics, experiencing strong local and foreign demand despite a full month of Eid impact&rdquo .
Tackling headwinds in Singapore
Singapore, however, faced headwinds from &ldquo structural shifts towards public healthcare utilisation&rdquo .
IHH Healthcare said that it has introduced measures aimed at stabilising its performance in the Republic, with recovery expected in the second half of 2026.
These include &ldquo refined patient targeting&rdquo , with Mount Elizabeth Hospital focusing on higher-valueh, high-intensity care, while Gleneagles Hospital and Parkway East Hospital seek to drive patient volumes.
The group is also expanding its daycare and ambulatory care offerings to support a broader out-of-hospital care strategy.
At the same time, IHH Healthcare is looking to boost patient volumes in Singapore with &ldquo more tie-ups with corporates, more competitive insurer packages, (and efforts to) grow medical tourism beyond traditional catchments&rdquo while maintaining strict cost controls.
In June 2025, insurer Great Eastern temporarily suspended pre-authorisation certificates for IHH Healthcare&rsquo s Mount Elizabeth hospitals, citing higher costs compared to other private hospitals.
Dr Nair said that a &ldquo continued strategic execution of organisation-wide transformation initiatives&rdquo will support the group&rsquo s target of achieving double-digit return on equity by 2028.
Earlier this month, IHH Healthcare announced a partnership with Oracle to consolidate its finance, human resources and supply chain systems in a single artificial intelligence-enabled cloud platform.
In April, the group said it would ramp up its use of AI in operations and clinical care at Mount Elizabeth Hospital.
Shares of IHH Healthcare closed flat at S$2.91 on Tuesday, before the results were announced.
IHH bags S$250 million green loan from DBS to promote safe use of antibiotics
The deal shows that sustainable financing can go beyond traditional environmental metrics, says DBS
[SINGAPORE] IHH Healthcare has secured a S$250 million sustainability-linked loan from DBS to tackle the misuse and overuse of antibiotics.
One of the key performance indicators tied to the loan is for IHH to promote the responsible use of antibiotics in its four Singapore hospitals: Mount Elizabeth, Mount Elizabeth Novena, Gleneagles and Parkway East.
This is the first known use case in which sustainable financing has been linked to strengthening antibiotic stewardship, IHH and DBS said in a statement on Friday (May 15).
Excessive and wrong usage of antibiotics have led to drug-resistant bacterial infections, which are harder to treat. They also strain healthcare systems and threaten ageing populations.
In response, IHH is strengthening its tracking of antibiotic &ldquo time-outs&rdquo . These are follow-up reviews within 72 hours of starting treatment to assess whether the course of the drug should be continued or adjusted.
The healthcare sector currently does not track antibiotic time-out compliance rates consistently.
The loan is &ldquo breaking new ground in what sustainable finance can achieve in the healthcare sector&rdquo , said IHH&rsquo s chief financial officer Dilip Kadambi.
It also demonstrates how sustainable finance can evolve beyond traditional environmental metrics to address social and public health challenges, said Dr Eugene Hong, head of healthcare and pharmaceuticals at DBS&rsquo institutional banking group.
IHH&rsquo s initiative is in support of Singapore&rsquo s National Strategic Action Plan on Antimicrobial Resistance.
IHH Healthcare&rsquo s $350 mil upgrade of Mt Elizabeth Hospital necessary to tap future demand
Mount Elizabeth Hospital, the flagship institution of IHH Healthcare, completed its multi-year, $350 million refurbishment. It added new facilities, redesigned workspaces, reconfigured rooms, made extensive use of technology and now sports an overall fresh new look.
The completion of Project Renaissance, as this costly endeavour is called, will put capacity previously taken out during the extensive works back into operation, leading analysts to project a steady pickup in IHH Healthcare&rsquo s Singapore earnings later this year.
However, the completion comes amid growing competition for the regional healthcare dollar as hospitals in Malaysia and Thailand raise the bar. At the same time, changes in Singapore&rsquo s healthcare insurance market mean the free-flowing consumption of private medical services will be curbed.
From the perspective of Dr Peter Chow, CEO of IHH Healthcare Singapore, the $350 million investment &mdash split roughly equally with associate Parkway Life REIT, which owns the physical property &mdash is necessary for the company to meet the expected long-term demand of healthcare not only in Singapore but across the region, which is similarly facing an ageing population issue.
Chow points out that the headline number for this refurbishment is significant. Still, it has to be seen in the context that hospitals need to make regular investments to maintain their facilities over the years.
&ldquo While we have invested every year in improvements, sometimes you just need to do a big renovation. Some of the things could not have been done on an incremental basis,&rdquo says Chow in an interview withThe Edge Singapore.
&ldquo We will look at what we can do while ensuring that we can continue to run the hospital, to serve patients better, to meet some of the regulatory standards and ensure that we are up to level with the latest standards of care,&rdquo says Chow, describing the investment akin to spending sinking funds collected regularly by condo management committees that are not used in equal tranches but the occasional one large spending.
When asked, Chow says that the patient load following completion of the refurbishment is &ldquo a little bit lower&rdquo than before. Still, he points out that a direct comparison cannot be made because of changes in the rooms&rsquo configuration, as the total number of beds has been reduced to make space for more single-bed rooms rather than four-bed rooms.
Chow is unfazed by the increased competition in Singapore&rsquo s medical tourism industry. For him, a near-term reason is the appreciation of the Singdollar, as well as geopolitical uncertainties. However, he stresses that running this business is a long-term commitment. &ldquo We need to ask ourselves, in the next 10 to 20 years, will Singapore continue to be a hub for not just medicine, but a hub in Southeast Asia? If the answer is yes, then I think we need to invest in that longer term continually,&rdquo he reasons.
In Singapore, tourism receipts have been growing and are on track to reach a new record of $29 billion to $30.5 billion last year. Chow believes that healthcare should be seen as &ldquo part of the entire proposition&rdquo for Singapore, as it is for the region as a whole. &ldquo You cannot be a financial and a commercial hub without being able to have good private health care for your business travellers or your high-net-worth people,&rdquo he says.
Flexible use, consistent message
Meanwhile, in the domestic market, there are ongoing changes to the insurance system aimed at curbing rising medical bills, which, under previous plans, were predominantly covered by insurers, leading to unnecessary treatments and procedures. Chow says that the government&rsquo s message is &ldquo very consistent&rdquo in urging more shared responsibility between patients and their insurers. As changes take place over the next couple of years, coupled with a growing, ageing population and higher expectations for healthcare standards, demand will continue to rise.
To support the growing demand, the hospital has been more flexible about space, given its location within a very densely built-up area right next to the country&rsquo s premier shopping street. Over the years, it has been shifting some of its functions to nearby buildings, rather than confining everything to the hospital proper.
For example, Paragon Medical Centre across the road houses other doctors&rsquo clinics, as well as extensive radiology and health screening service providers. The Hereen, another nearby mall cum office space, houses the Fertility Centre and also the Haematology & Stem Cell Transplant Centre. Tong Building, meanwhile, houses some administrative offices and ambulatory care services, while Lucky Plaza is home to the Rehabilitation Robotics Centre. &ldquo We like to call ourselves a campus not all care needs to be in the hospital,&rdquo says Yong Yih Ming, CEO of Mount Elizabeth Hospital.
As for the hospital&rsquo s own refurbishment, the motivation is to make operations more efficient and more patient-friendly. Changes were made to both the building&rsquo s structure and the furnishings of individual rooms. For example, new corridors running the entire length of the hospital, stretching 100 metres, were created on each floor. Coupled with various lifts along the way, this means much better ease of access.
Another thoughtful touch was to provide different types of lifts for patients who need to be moved between floors. Previously, because of shared lifts, some patients, as they lie in bed and are being transferred to other parts of the hospital, may find themselves looking up at members of the public in the same lifts.
Instead of providing actual safes in patients&rsquo rooms for storing valuables, cabinets with digital locks were installed, so that anything from Birkins to laptops can be secured. &ldquo If you take this bed away, it won&rsquo t look like a hospital room,&rdquo quips Yong. Rooms are also equipped with AI-enabled CCTV cameras that can detect motion and determine whether a patient is at risk of falling. &ldquo Fall risks are a key metric of any hospital,&rdquo says Yong.
No details are too small to matter. For example, instead of curtain tracks wrapping around the entire bed, they are split into two to minimise the distance nurses need to walk &mdash everything adds up.
The hospital, taking inspiration from Krisworld, Singapore Airlines&rsquo in-flight entertainment system, has introduced &ldquo LizWorld&rdquo &mdash Liz, of course, is &ldquo Elizabeth&rdquo for short. Around a third of the patients are from outside Singapore. The language selection of the LizWorld interface reflects this. Besides English, there are options for Bahasa Indonesia and Vietnamese. Chinese and Khmer will soon follow.
Patients&rsquo requests for additional amenities via the app can be fulfilled directly by housekeeping, rather than summoning nurses in the wards to take the orders and relay them, which distracts them from their actual clinical work. &ldquo We&rsquo ve effectively eliminated the nurses from this whole process,&rdquo says Yong. &ldquo If nurses don&rsquo t go to you so often, we can have headcount savings.&rdquo
The refurbished hospital has several uncommon features. For example, to complement the hospital&rsquo s full suite of oncology treatment capabilities, there is a lead-lined room for patients receiving nuclear medicine. As the patients will be emitting radiation for a few days following the administration of the dosage, they need to be confined to their rooms. The toilet bowl is different, too, featuring a storage space for radioactive waste, allowing its half-life to decay to a point where it can be flushed into the general sewage to avoid contamination.
A commonly cited reason for medical inflation is the cost of buying new equipment. The flipside is that the new equipment can improve efficiency and outcomes. The hospital is equipped with a hybrid computed tomography angiography (CTA) system, also known as Angio-CT. This machine combines a high-end CT scanner and a catheterisation laboratory, enabling doctors to map real-time 3D CT images and perform interventional, minimally invasive procedures in the same setting.
In addition to better precision &mdash knowing, for example, which specific blood vessel feeds a tumour &mdash the use of this hybrid machine also reduces patient transport time. So instead of one visit for scanning and another for treatment, both procedures are done in one go. &ldquo Project Renaissance is an opportunity for us to upgrade our specialised clinical capabilities as well,&rdquo says Yong.
Non-profit hospital?
As part of the overall bid to increase healthcare capacity to meet structural growth in demand, the government is considering another non-profit private hospital, in addition to Mount Alvernia. One key trait of this model is to ensure some control over bill size. In return, according to Chow, the government will, for one, ensure that land costs are controlled, making it more sustainable for operators. In 2008, IHH Healthcare bid $1.25 billion for the land to build Mount Elizabeth Novena, more than half of the total cost.
Chow, as CEO of IHH Healthcare Singapore, was involved in the consultation for the non-profit hospital two years ago. However, he is not sure what the specific conditions for the proposed new hospital will be and thus prefers to provide more comments when available. &ldquo We will definitely study it very carefully and assess it,&rdquo he says.
While IHH Healthcare has a significant presence in Malaysia, Turkey and India too, Singapore remains a market, contributing ebitda of RM385 million in the most recent 4QFY2025, or 26.1% of the total. In the past year, IHH Healthcare shares have gained around 40% to trade at around $2.80.
Meanwhile, with Mount Elizabeth&rsquo s multi-year refurbishment done and dusted, is IHH Healthcare looking at undertaking similar works at its three other hospitals here? Mount Elizabeth Novena, opened in 2012, is relatively new the building where Parkway East Hospital is sited was built in 1982 Gleneagles Hospital, founded in 1957, underwent a $150 million modernisation in the early 1990s.
Chow says IHH Healthcare will &ldquo definitely&rdquo assess such undertakings but will need to take into consideration the timing, the sequence, and the bigger picture, such as countrywide hospital bed capacity. He points out that IHH&rsquo s hospitals helped meet the surge in demand during the pandemic, allowing proper patient isolation. The extensive refurbishments on the scale of Project Renaissance will take the capacity out of service during the period.
&ldquo If we do another hospital just like what we have done here, we need to think about how healthcare will change in the next 20 years? We are not trying to rush into it, but we are definitely looking, and it&rsquo s not a matter of if,&rdquo says Chow.
In IHH&rsquo s hospitals, leadership starts with the people no one sees
Every role matters &ndash empathy, not strategy alone, determines success, says group CEO
The strategies and stories that shape today&rsquo s leaders
[KUALA LUMPUR] Dr Prem Kumar Nair did not grow up dreaming of a career in only medicine. Law too appealed to him for the same reason healthcare eventually did: both are, at heart, about people.
That instinct, more than any grand doctrine, now sits at the centre of how he runs IHH Healthcare : Q0F -1.06% &ndash one of the world&rsquo s largest private-hospital operators.
The group, which has a market capitalisation of RM77.2 billion (S$25 billion), reported a revenue of RM25.7 billion last year, up nearly 6 per cent from FY2024. It operates 89 hospitals and more than 140 healthcare facilities across 11 markets.
For Dr Nair, leadership is not an abstract management theory but one that is intensely human. It is about whether one can speak with equal ease to a specialist, a patient&rsquo s family member and the cleaner keeping a ward safe.
&ldquo I like being with people,&rdquo said the group chief executive of IHH. &ldquo Ask me to speak to anyone, from the office cleaner to a specialist, and I am very comfortable. I enjoy it.&rdquo
His entry into medicine was, by his own telling, almost accidental. After pre-university studies, he applied for medicine, dentistry and law, not entirely certain where he belonged. Medicine came through.
&ldquo I stumbled into medical school,&rdquo he recalled, noting that his parents were more certain about the choice than he was.
Dr Nair was serving national service in Singapore when the enrolment letter arrived. He called his parents -&ndash who were in Malaysia &ndash to inform them of his acceptance into medical school.
&ldquo I still remember my mother&rsquo s reaction. She said: &lsquo You don&rsquo t sound very happy about it,&rsquo &rdquo he laughed.
That has since hardened into one of his bluntest pieces of advice for young people considering healthcare as a career: If you do not like dealing with people, it is probably the wrong industry.
&ldquo When youngsters ask me for advice, I ask them what they do in their free time. Are they out playing sports and meeting people, or are they focused solely on technology? It&rsquo s a quick assessment, but a vital one. Even at the most junior level (in a healthcare setting), your day is filled with talking to patients and families. You have to be comfortable in those moments.&rdquo
People-first policy
While training as a family physician, Dr Nair, a Singapore citizen, became drawn to the machinery around medicine &ndash how healthcare systems are organised, financed and delivered at scale.
That interest eventually pulled him beyond clinical care and into management, leading him to pursue a Master of Business Administration (MBA) &ndash a step he now sees as career-defining.
&ldquo Most doctors are not naturally managers their training is intensely specialised, focusing on narrow sub-specialities,&rdquo observed the 64-year-old, who grew up in Malaysia.
Drawing from his own dual perspective as a National University of Singapore-trained physician and a Manchester Business School MBA holder, he understands the rare balance required to lead a global healthcare giant.
Dr Nair believes leadership in healthcare cannot be reduced to strategy alone. &ldquo One thing I&rsquo ve learnt is that leadership is far more about people than anything else.&rdquo
While business schools emphasise financial metrics and strategic frameworks, he argues that the most critical skill &ndash people management &ndash is often underplayed.
Empathy, he noted, is the constant across all levels of leadership.
&ldquo In a hospital, even cleaners are critical. Without them, the system simply cannot function.&rdquo
Resilience overcomes forex volatility
Despite the group&rsquo s strong revenue performance, currency headwinds had an impact on its bottom line in the 2025 financial year, with net profit declining by 21 per cent to RM2.1 billion.
This decrease was largely attributed to a stronger ringgit leading to unrealised forex losses, alongside rising depreciation and staff expenses.
Dr Nair said IHH&rsquo s core earnings have expanded at double-digit rates in recent years, both at the top line and bottom line, when measured in local currencies across its operating markets.
The group&rsquo s diversified footprint spanning Asia, Europe and the Middle East &ndash provides a natural hedge against volatility in any single market, although reported earnings can fluctuate due to foreign-exchange movements.
IHH &ndash which is dual-listed on the Singapore Exchange and Bursa Malaysia &ndash reports in ringgit. Thus, currency-translation effects, particularly from markets such as India, Turkey and Singapore, can result in non-cash translation losses, even when underlying operations remain strong.
&ldquo We emphasise our core earnings,&rdquo the group CEO said, noting that this is the metric most closely watched by investors and analysts.
IHH&rsquo s scale also allows it to extract efficiencies, particularly through centralised procurement.
Almost all major capital expenditures, including for magnetic resonance imaging or MRI scanners, linear accelerators and patient-monitoring systems, are negotiated at the group level, allowing IHH to secure some of the most competitive pricing across its markets.
&ldquo That has become a very important lever,&rdquo he pointed out, as hospitals face constraints in passing on rising costs to patients.
Expansion pace continues
Even in uncertain times, IHH remains on the hunt for growth opportunities.
According to Dr Nair, the focus is on economies of scale and targets that add immediate or near-term value to earnings. Key requirements include scalability and the potential for operational synergy in areas such as IT and procurement.
Yet, he maintains a flexible approach, noting that since every market is different, there is no &ldquo one size fits all&rdquo strategy.
In emerging markets such as Malaysia, India and Turkey, the group continues to drive organic growth by expanding bed capacity and upgrading facilities to meet rising demand.
The chief highlighted the 2024 acquisition of Island Hospital in Penang as a pivotal turning point.
This initially boosted Malaysia&rsquo s contribution to IHH&rsquo s medical tourism business, from low single digits to nearly 10 per cent last year. &ldquo That contribution has since climbed to approximately 15 per cent, closing the gap with more established markets.&rdquo
He emphasised that Malaysia&rsquo s growth potential remains significant, and that the company continues to seek strategic opportunities.
&ldquo Klang Valley and Johor remain attractive hubs. While we have a dominant presence in Penang, we aren&rsquo t everywhere yet. We are also seeing robust growth in Melaka, fuelled by medical tourism from Sumatra.&rdquo
Unlike emerging markets, mature markets such as Singapore and Hong Kong have strict regulatory caps on new private hospital licences.
In such places, IHH has chosen to focus on community-based care, by adding numerous ambulatory centres, including surgical, medical, endoscopy and comprehensive facilities, such as its new one in Shanghai.
&ldquo This aligns with a global healthcare trend towards right-siting care outside capacity-strapped hospitals, and improving patient experience,&rdquo he added.
Complementing this localised approach is a push towards consolidating IHH Laboratories&rsquo regional businesses into a unified platform, enabling the lab services division to expand into high-value genomics and precision medicine.
&ldquo Currently, many of these tests are sent abroad to institutions such as the Mayo Clinic. To capture this, we are establishing our own reference and genomic laboratories &ndash starting in India, with plans to expand across South-east Asia.&rdquo
Shifting landscape
Even as IHH expands, it continues to navigate a complex operating environment shaped by geopolitical tensions, rising costs and shifting patient behaviour.
Dr Nair noted that such pressures are affecting medical tourism flows, particularly through travel disruptions and affordability constraints.
However, the sector&rsquo s underlying resilience remains intact. &ldquo You can defer, but you cannot avoid many treatments,&rdquo he added.
This dynamic supports relatively stable demand, with patient volumes typically rebounding once external pressures ease.
Insurance coverage is also strengthening the industry&rsquo s resilience, with more patients covered across key markets, reducing reliance on out-of-pocket spending.
From business to healthcare leadership
For Dr Nair, the evolution of IHH is not just about scale or financial performance, but about redefining leadership in healthcare.
When he took on the role in 2023, the group was widely seen as a strong business operator. But he pushed for a broader identity.
&ldquo We needed to be seen as a healthcare leader,&rdquo he said, noting that the leadership requires setting global standards and expanding patient access rather than merely chasing growth.
In an industry where margins, manpower and expectations must be balanced, Dr Nair&rsquo s philosophy remains unwavering. &ldquo Behind every number is a patient. Healthcare, at its core, is always about people.&rdquo
Three questions with IHH Healthcare group CEO Dr Prem Kumar Nair
Q: Was there a pivotal moment in your career or personal life that changed your approach to leadership?
It evolved over time. My background &ndash growing up in Malaysia during the 1960s and 1970s, and my time in national service and studying medicine in Singapore &ndash all of that shaped me.
I have always taken the view that it&rsquo s very difficult for one individual to know everything. When I took over this role, I also had a hard look at how IHH was perceived. We were seen as a strong business leader, but I felt that wasn&rsquo t enough. We needed to be seen as a healthcare leader.
Q: What is one piece of &ldquo unconventional wisdom&rdquo you swear by that most business schools would tell you is wrong?
Business schools teach you strategy, financial results and growth, but they don&rsquo t teach people management very well. People skills are one of the most important things you can&rsquo t really pick them up in a 15 or 18-month MBA course.
I have to be very honest, many doctors may not be good managers because their training is very narrow and focuses on sub-specialities. To be a leader, you need to have strong people-management skills, and also different types of leadership skills as you move up the career ladder.
Q: When you feel burnout creeping in, what&rsquo s your non-business-related routine that helps you reset?
I have always believed in staying active and resting well. Healthcare is a relentless 24/7 business. I urge my staff to rest whenever possible and pursue hobbies to de-stress.
I&rsquo m lucky enough to be able to sleep anywhere &ndash hotels, planes or home &ndash and I only need about four or five hours of solid rest.
I maintain my energy through daily walking and weekend cycling, but it&rsquo s my passion for football that truly allows me to disconnect. It is the perfect way for me to shift gears and relax.
IHH rolls out AI across Mount Elizabeth as S$350 million upgrade delivers on savings, efficiency gains
AI-driven overhaul reduces workload and trims resource use, with savings set to benefit patients
[SINGAPORE] IHH Healthcare is ramping up its use of artificial intelligence across operations and clinical care at Mount Elizabeth Hospital, as its S$350 million transformation project is seen delivering early gains in cost savings, efficiency and patient outcomes.
AI deployment in areas such as claims processing, nurse rostering and patient monitoring is already reducing administrative workload and freeing up frontline staff time, noted Peter Chow, chief executive officer of IHH Healthcare Singapore.
&ldquo Even at the first steps and whatever we have done now, we are already able to realise the benefits (of AI),&rdquo he told the media during a briefing on Thursday (Apr 16), where the healthcare group unveiled the completion of its first major campus overhaul since opening in 1979.
The transformation project called Project Renaissance was first announced in 2023, and is a S$350 million three-year transformation &ndash jointly invested by IHH Healthcare and Parkway Life Reit, targeting upgrades to core infrastructure, clinical environments and digital systems.
The project is part of a broader group-wide transformation at IHH Healthcare, with AI adoption and digitalisation central to its long-term competitiveness.
Use of AI in operations, clinical space
IHH is taking a deliberate, staged approach to AI adoption. &ldquo In healthcare, we generally tend to be very conservative because we recognise that there has to be a lot of safety and quality considerations,&rdquo said Dr Chow.
In the claims office, AI and automation have already replaced manual processes, saving the equivalent of at least one headcount daily, he added.
In the ward, high fall-risk patients can opt for CCTV monitoring, with AI detecting falls in real time to balance safety with privacy.
Mount Elizabeth Hospital&rsquo s patient platform, LizWorld, consolidates digital wayfinding, in-room services, patient information and self-service requests into a single system, with augmented reality guiding patients through ward facilities.
&ldquo Besides enhancing safety, these can reduce nurse time &ndash and a lot of resources are saved in the process,&rdquo said Yong Yih Ming, chief operating officer of IHH Healthcare Singapore. &ldquo That would stack up in terms of cost management.&rdquo
The hospital also uses AI in its day to day operations, with a Patient Intelligence Centre (PIC) that integrates bed management, operating theatre and endoscopy scheduling using live operational data.
NurseShift.ai, an AI‑ powered nurse rostering system, further reduces administrative workload, saving 51 per cent of the time spent on rostering, and allows nurses to spend more time on direct patient care.
On top of the existing infrastructure, Dr Chow indicated that the next step that the group is looking at would be to deploy AI to help its doctors improve on quality.
Currently, the hospital is focusing on delivering complex, high-acuity specialist care, with the use of AI‑ enabled solutions such as Annalise.ai, Lunit and SenseCare Chest CT in medical imaging.
&ldquo We want to use AI to assist in the diagnosis, but we are not replacing the doctors totally &ndash we are using AI to support them,&rdquo said Dr Chow.
Beyond Mount Elizabeth Hospital, these digital and AI initiatives are also being deployed to support clinicians and frontline teams with the tools needed across IHH Singapore&rsquo s hospitals.
Cost savings from AI would be passed to patients
As AI and digitalisation drive efficiencies, Yong said that the cost savings from the transformation could be transferred to patients.
With the use of robotics, for example, it could replace two or three staff doing manual work across shifts, which cuts manpower cost. This, alongside other initiatives, could potentially lead to about 10 per cent in savings and naturally bring down healthcare costs.
&ldquo We always talk about healthcare costs going up. What we are trying to do is do the reverse,&rdquo said Yong.
Better clinical outcomes, he added, creates a virtuous cycle. &ldquo The better the clinical outcome, the shorter the length of stay, the healthier you get, (and) the lower cost it is from an inpatient perspective.&rdquo
IHH Healthcare beefs up cancer-care capability with investment in US firm TibaRay
The Malaysian healthcare services provider will also work with the medtech firm on clinical evaluation, knowledge sharing and use of radiation technology in key markets
[KUALA LUMPUR] Malaysia&rsquo s IHH Healthcare will invest in US-based medical technology firm TibaRay, gaining access to radiotherapy technology as it seeks to strengthen its cancer-care capabilities, the company said on Thursday (Jan 29).
The investment gives it exposure to TibaRay&rsquo s radiotherapy technology, which enables a &ldquo flash&rdquo therapy that delivers radiation doses at speeds faster than conventional treatments, while limiting damage to the surrounding healthy tissue.
IHH did not disclose the size of the investment.
As part of the collaboration, it will work with TibaRay on clinical evaluation, knowledge sharing and potential future deployment of the technology across key markets.
The move supports IHH&rsquo s push to build centres of excellence in oncology across its hospital network in Asia, as it steps up spending on advanced-cancer-treatment technologies.
IHH Healthcare&rsquo s Q3 net profit rises 15% to RM616 million
Revenue is up 16% at RM6.6 billion, on the back of strong performances from key markets Malaysia and India
[SINGAPORE] IHH Healthcare on Wednesday (Nov 26) posted a net profit of RM616 million (S$194.3 million) for its third quarter ended Sep 30, a 15 per cent increase from RM534 million in the prior year.
Earnings per share stood at RM0.0697, up from RM0.0606 in the year-ago quarter.
Q3 revenue was up 16 per cent on the year at RM6.6 billion, from RM5.6 billion, on the back of strong performances in the company&rsquo s key markets &ndash particularly Malaysia and India.
&ldquo Malaysia made significant headway in containing payor pressure, cost inflation and transitioning to a more capital-efficient, daycare-focused model,&rdquo IHH Healthcare noted in a bourse filing.
&ldquo It also increased its medical tourism share on contribution from Island Hospital.&rdquo
In India, an operations and maintenance services agreement between Fortis Healthcare and Gleneagles India led to greater efficiency and growth opportunities.
Meanwhile, the Singapore segment posted a 6 per cent fall in earnings before interest, taxes, depreciation and amortisation to RM422 million, compared with RM449 million in Q3 FY2024.
IHH Healthcare attributed the decline to headwinds from cost inflation and Mount Elizabeth Orchard&rsquo s phased opening during the period.
It added that Singapore operations expected to progressively improve &ldquo as contributions from Mount Elizabeth Orchard ramp up, and as the pivot to extend ambulatory care services bears fruit&rdquo .
The company declared an interim single-tier cash dividend for the financial year ending Dec 31 of RM0.05 per share, which was paid out on Oct 30.
Cash and cash equivalents stood at about RM1.47 billion for Q3 FY2025, down slightly from RM1.51 billion the year before.
The group has a &ldquo confident&rdquo growth outlook amid rising healthcare demands across its key markets of Malaysia, India and Singapore.
It also noted: &ldquo As the first private healthcare group to be fully participative in (Singapore&rsquo s National Electronic Health Record system), IHH will also benefit from faster, better-informed decisions and more seamless operations, for its patients&rsquo benefits.&rdquo
IHH Healthcare added that contributions from Mount Elizabeth in Singapore should stabilise by the second quarter of 2026.
IHH Healthcare Q2 net profit falls 28.9% on higher staff costs
The lower earnings come despite revenue for the quarter inching up 3.4% from the year-ago period
[SINGAPORE] Integrated healthcare provider IHH Healthcare : Q0F -0.49% posted a 28.9 per cent drop in net profit to RM443 million (S$134.7 million) for its second quarter ended Jun 30, 2025, from RM623 million in the previous corresponding period.
This comes despite revenue inching up 3.4 per cent to RM6.3 billion for Q2 2025, from RM6.1 billion in the year-ago period.
In a bourse filing on Friday (Aug 29), IHH Healthcare said the higher revenue was offset by larger staff costs, other operating expenses such as utilities, as well as startup and pre-opening costs of two hospitals in Turkey that opened in the first half of the year.
Staff costs for Q2 2025 increased by RM145 million to RM2.45 billion, from RM2.31 billion a year earlier. The increase comes as the group &ldquo expands its capacity to cater for higher demand for its services and annual increment&rdquo .
Earnings per share dropped 29 per cent to 5.02 sen, from 7.07 sen for Q2 2024.
An interim single-tier cash dividend of five sen per share was declared for Q2 2025, up from 4.5 sen in the corresponding quarter the year before. The dividend will be paid on Oct 30, after close of business on Sep 30.
The group said its hospital and healthcare revenue growth in Q2 2025 was &ldquo driven by sustained demand for quality healthcare services, a case-mix of more acute patients and price adjustments to counter inflation&rdquo .
Revenue was also boosted by its consolidation of Island Hospital, acquired in November 2024.
While hospital inpatient admissions in Singapore for the quarter fell some 9 per cent, those in Malaysia grew around 4 per cent. India, Turkey and Europe figures increased as well.
For H1 2025, net profit fell 31.2 per cent to RM957 million from RM1.39 billion in the year-ago period. Revenue for the six-month period rose 4.5 per cent to S$12.6 billion, from S$12 billion a year earlier.
Earnings per share for H1 2025 stood at 10.85 sen, down 31.3 per cent from 15.79 sen for H1 2024.
Noting that the healthcare landscape is &ldquo continually evolving&rdquo , IHH Healthcare said: &ldquo Advancement in medical technology and improved clinical outcomes have spurred the demand for day surgeries while shortening inpatient length of stay.&rdquo
That said, it added that payer pressures from public and private insurers alike &ldquo continue to shape reimbursement dynamics in the industry&rdquo .
mount E has been overcharging patients for years...now tua dai chi
?Significantly higher costs?: Great Eastern suspends pre-authorisation certificate for admission to Mount Elizabeth hospitals
The insurer says it is prioritising facilities that deliver the same care with higher transparency and cost effectiveness
?Significantly higher costs?: Great Eastern suspends pre-authorisation certificate for admission to Mount Elizabeth hospitals
The insurer says it is prioritising facilities that deliver the same care with higher transparency and cost effectiveness
hoho...siao liao..GE suspends Mt E
Insurer Great Eastern pauses pre-authorisation certificates for Mount Elizabeth admissions
https://www.straitstimes.com/singapore/insurer-great-eastern-pauses-pre-authorisation-certificates-for-mount-elizabeth-admissions
Insurer Great Eastern pauses pre-authorisation certificates for Mount Elizabeth admissions
https://www.straitstimes.com/singapore/insurer-great-eastern-pauses-pre-authorisation-certificates-for-mount-elizabeth-admissions
Measures to address medical inflation could soften revenue, but issues have abated significantly: IHH Healthcare
Q2 likely to remain soft, but group anticipates rebound in Q3 and Q4
[SINGAPORE] IHH Healthcare will likely face &ldquo some softening of (patient admissions) and revenue&rdquo from measures the group has implemented to combat medical inflation in Malaysia, but the situation has &ldquo improved considerably&rdquo , said its group chief executive Dr Prem Nair on Friday (May 30).
The group is now negotiating directly with insurers, offering more packages and discounts, he said. Issues that triggered the medical inflation issue, such as a weak ringgit, have &ldquo abated significantly&rdquo .
&ldquo (Medical inflation) has not fully gone away, but we have all now come to the table,&rdquo said Dr Nair, noting that the group is also in discussion with various parties including Malaysia&rsquo s health ministry and life insurance association to curb medical inflation.
Dr Nair noted that although Malaysia now faces sustained medical inflation, these issues previously occurred in other markets IHH Healthcare has operations in.
These countries have since come up with ways to manage high costs. For example, in Singapore, the government formed a committee for payers, providers and regulators to discuss, he said.
&ldquo Payer-provider issues have been with us in healthcare for the longest time... and it will never go away because there is a third party paying for the patient,&rdquo said Dr Nair.
&ldquo I can guarantee it will come up again in another country, and we will have to use the same playbook to manage these issues as well.&rdquo
He was speaking at an analyst briefing after the group&rsquo s first-quarter earnings. IHH Healthcare posted net profit of RM514 million (S$156.3 million) for the three months ended Mar 31, down 33 per cent from RM768 million in the corresponding year-ago period.
Despite the impact of medical inflation and the Ramadan fasting period on Malaysia, contributions from Island Hospital in Penang resulted in the segment&rsquo s revenue gaining 17 per cent year on year to RM1.1 billion. The segment&rsquo s earnings before interest, taxes, depreciation and amortisation gained 14 per cent on year to RM273 million.
The group in November last year completed the acquisition of the hospital. This resulted in a &ldquo robust increase in in-patient admissions (in Malaysia), up 6 per cent&rdquo , said group chief corporate officer Ashok Pandit.
Group chief financial officer Dilip Kadambi added that without the medical tourism-focused Island Hospital, revenue growth in Malaysia would have been &ldquo probably flattish&rdquo with a slight increase.
Meanwhile, Singapore&rsquo s Mount Elizabeth Hospital, which is currently operating at a lower capacity as it undergoes renovations, is on track to fully reopen by Q3 this year, said the group&rsquo s senior management.
&ldquo While Q2 continues to be soft, we anticipate a reasonable rebound in the second half of the year. This recovery will be driven by successful negotiation with payers and completion of Mount Elizabeth Hospital renovations,&rdquo said Kadambi.
Maybank Securities analysts Nur Natasha Ariza and Yin Shao Yang said the results are in line with expectations and IHH Healthcare&rsquo s growth outlook remains intact, as it looks to add around 4,000 beds in several markets by 2028.
&ldquo Despite some geopolitical, structural and regulatory challenges across the different countries, we stay bullish on resilient demand and growing case-mix intensity as IHH remains focused on organic and opportunistic inorganic growth,&rdquo they said.
IHH Healthcare Q1 profit falls 33% to RM514 million on exceptional items
Revenue for the quarter rises 6% to RM6.3 billion on the back of increased contributions from Malaysia, Turkey and Europe
[SINGAPORE] Integrated healthcare operator IHH Healthcare : Q0F 0% on Thursday (May 29) posted a 33 per cent fall in net profit to RM514 million (S$156.3 million) for its first quarter ended Mar 31, from RM768 million the year before.
The drop came mainly from a lower net monetary gain from the application of MFRS 129, and the recognition of a deferred tax credit in 2024 arising from the revaluation of certain assets in Turkey, which was granted by the Turkish government, the mainboard-listed group said in a bourse filing.
MFRS (Malaysian Financial Reporting Standards) 129 requires financial statements of an entity, the functional currency of which is the currency of a hyperinflationary country, to be restated as the measuring unit current at the end of the reporting period.
Excluding exceptional items, IHH&rsquo s net profit rose 5 per cent to RM425 million on core operational growth, from RM403 million the year before.
Revenue for the quarter rose 6 per cent to RM6.3 billion, from RM6 billion the year before.
This was mainly attributable to increased contributions from Malaysia, Turkey and Europe, despite the Ramadan holiday period affecting many markets in Q1 2025, the group said.
Earnings per share stood at 5.83 sen for the quarter, down from 8.72 sen in the year-ago period.
No dividend was declared for the quarter, unchanged from a year ago.
The group noted rising demand for healthcare domestically and across its key markets &ndash which include Malaysia, Singapore, Turkey, India and Greater China &ndash and &ldquo continued revenue growth&rdquo driven by healthcare megatrends.
It added that it will focus on driving profitability and sustaining a healthy return on equity, while maintaining prudent capital management and mitigating inflationary and interest-rate pressures.
To future-proof its business, the group has initiated a multi-year transformation plan with seven focus areas: clinical excellence patient experience new care models operational excellence payor and regulator engagement employee and doctor value proposition and the advancement of technology, data and artificial intelligence.
Dr Prem Kumar Nair, group chief executive officer of IHH Healthcare, attributed the group&rsquo s &ldquo resilient operational performance&rdquo in Q1 2025 to an improvement in in-patient volumes and higher revenue intensity across some markets.
The group remains on track to achieve its goal of expanding capacity by 4,000 beds, with 1,000 beds already added in 2024, he added.
IHH Healthcare signs S$300 million sustainability-linked loan with UOB
This is the bank&rsquo s first such loan for a player in the health sector
[SINGAPORE] Integrated healthcare operator IHH Healthcare has signed its first S$300 million sustainability-linked loan with UOB, strengthening its ongoing commitment to add and uphold sustainable practices across its operations.
&ldquo As a multinational healthcare player touching millions of lives each year, we are proud to advance sustainable financing through this loan,&rdquo said Dilip Kadambi, IHH&rsquo s group chief financial officer.
&ldquo We see sustainability as an opportunity to create lasting impact.&rdquo
For UOB, this marks its first sustainability-linked loan for the healthcare sector.
As at Dec 31, 2024, UOB has provided S$16.6 billion in sustainability-linked loans for clients across sectors including real estate, construction and infrastructure, and industrials.
IHH&rsquo s loan is structured under the bank&rsquo s Sustainability-Linked Financing Framework, which provides clients with pre-approved and externally validated key performance indicators and sustainability performance targets.
Ang Moh Chuan, UOB&rsquo s managing director of group corporate banking, said: &ldquo This partnership with IHH Healthcare exemplifies how sustainable finance can drive meaningful change.
&ldquo UOB is committed to working with businesses across the region to accelerate their transition towards a low-carbon economy,&rdquo he added.
IHH has a network of more than 140 healthcare facilities, including over 80 hospitals in 10 countries.
It has set goals to cap its carbon growth this year, and improve water and waste management. Ultimately, it hopes to achieve net-zero emissions by 2050.
The healthcare provider also joined the FTSE4Good Index in December last year, which measures the performance of companies on their environmental, social and governance practices.
IHH Healthcare &lsquo on track&rsquo for double-digit ROE despite medical inflation woes
Management says sustained medical inflation in Malaysia will stabilise over time
INTEGRATED healthcare operator IHH Healthcare : Q0F +4.19% is &ldquo on track for double-digit return on equity (ROE)&rdquo in the coming years, said its management on Friday (Feb 28).
While the group did not give a concrete timeline for achieving this goal, it has &ldquo set itself up for going towards double-digit ROE in 2025 as well&rdquo , said group chief financial officer Dilip Kadambi during an earnings call after the release of its FY2024 results.
ROE for FY2024 stood at 8.7 per cent, while ROE without exceptional items and the effects of Malaysian Financial Reporting Standard 129 &ndash the financial reporting standard for hyperinflationary economies &ndash was 9 per cent.
The group on Thursday reported net profit of RM732 million (S$221.2 million) for the quarter ended Dec 31, up 1 per cent from RM728 million in the corresponding year-ago period. For the full year, profit declined 10 per cent year on year to RM2.7 billion, from about RM3 billion the year before.
The fall was due to the absence of one-off gains from the sale of International Medical University and Gleneagles Hospital Chengdu in FY2023.
Without exceptional items including these one-off gains, profit would have risen 32 per cent year on year to RM1.7 billion, from RM1.3 billion.
During the call, Dr Prem Nair, IHH Healthcare group chief executive, said the group&rsquo s strong performance allowed it to increase its total dividend to RM0.10 per share, up 11 per cent from FY2023&rsquo s RM0.09 per share.
This translates to about 40 per cent of the group&rsquo s net profit, which is above the group&rsquo s dividend policy of distributing at least 30 per cent of its net profit excluding exceptional items.
Medical inflation in Malaysia
Questions were raised about Malaysia&rsquo s current sustained period of medical inflation possibly affecting IHH Healthcare&rsquo s profit margins. The country contributed about 17 per cent to the group&rsquo s full-year revenue in FY2024.
Bank Negara Malaysia cited data indicating that medical cost inflation in Malaysia reached 15 per cent in 2024, above the global and Asia-Pacific average of 10 per cent.
Therefore, the central bank announced interim measures to tackle the high costs, such as having insurance companies spread out their changes in policy premiums over a minimum period of three years, to ensure most policyholders&rsquo yearly premium adjustments are less than 10 per cent.
On IHH Healthcare&rsquo s end, price increases at the group&rsquo s hospitals are mainly in the &ldquo low single digits&rdquo and primarily capture consumer inflation, said Dr Nair. He noted that insurance companies have been asking for discounts in the range of 10 to 40 per cent from hospitals, but some of these discounts are &ldquo not realistic&rdquo , given the margins in which IHH Healthcare operates.
&ldquo What has to happen is everyone comes to the table and discusses all these (issues),&rdquo he said. &ldquo It&rsquo s a combination of insurers, regulators, private hospitals, even policyholders and patients.&rdquo
And the government has been taking steps to address medical inflation, as the Malaysian Public Accounts Committee started speaking to several stakeholders in the healthcare industry in closed-door meetings.
Therefore, he believes the situation will stabilise over time, and IHH Healthcare will wait for &ldquo some of these things to play out&rdquo , said Dr Nair. In any case, as the group operates in several other markets, &ldquo when something happens in a particular country, we have the other countries to cushion&rdquo , he said.
IHH Healthcare reports FY2024 earnings of RM2.7 billion
IHH Healthcare has reported earnings of RM2.7 billion for its FY2024, down 10% over the preceding year ended Dec 31 2023 in the absence of one-off gains from divestments of some RM989 million booked in FY2023.
Without which, the healthcare giant' s bottom line jumped by 32% y-o-y to RM1.7 billion, on the back of a 16% increase in revenue to RM24.4 billion.
The company plans to pay a second and final dividend of 5.5 sen per share, bringing total payout for FY2024 to 10 sen.
In the most recent 4QYF2024, earnings, if excluding the distortion from the disposal gains, was up 19% y-o-y.
In FY2024, IHH Healthcare added nearly 1,000 beds and is on track to further increase its capacity so that it can generate more growth in the coming years.
Besides adding new beds, the company is undertaking extensive refurbishments at its hospitals such as Mount Elizabeth
Hospital in Singapore where works are slated to be completed ahead of schedule by Q3FY2025.
" Going forward, IHH will continue to drive high-value, cost-effective care for our patients by improving clinical outcomes and patient experience," says group CEO Dr Prem Kumar Nair.
" The favourable secular trends in our key markets provide strong tailwinds for our continued growth. We are confident in strengthening our position as a global healthcare leader while delivering healthy returns to our shareholders," he adds.
IHH Healthcare Q4 earnings edge up 1% to RM732 million
This translates to earnings per share of RM0.0831
INTEGRATED healthcare operator IHH Healthcare on Thursday (Feb 27) announced net profit of RM732 million (S$221 million) for the quarter ended Dec 31, 2024, up 1 per cent from RM728 million in the corresponding year-ago period.
This translates to earnings per share (EPS) of RM0.0831, compared to RM0.0826 in the fourth quarter of 2023.
The group declared a final dividend per share of RM0.055, to be paid on Apr 28.
This brings the total dividend per share for FY2024 to RM0.10, compared to RM0.09 in FY2023.
Revenue for the period gained 26 per cent on-year to RM6.7 billion, from RM5.3 billion.
This was due to a sustained demand for quality healthcare services, higher inpatient volumes as well as revenue intensity from taking on more complex cases, said IHH Healthcare.
The consolidation of Timberland Medical Centre and Island Hospital upon acquisition also contributed to the increase in revenue.
On a full-year basis, profit declined 10 per cent year on year to RM2.7 billion, from about RM3 billion a year ago. This was attributed to the absence of the one-off gains from the sale of International Medical University and Gleneagles Hospital Chengdu in FY2023, which amounted to RM989 million
Revenue for the year increased 16 per cent year on year to RM24.4 billion, from RM20.9 billion.
Commenting on the outlook, Dr Prem Nair, IHH Healthcare&rsquo s group chief executive, said: &ldquo The favourable secular trends in our key markets provide strong tailwinds for our continued growth. We are confident in strengthening our position as a global healthcare leader while delivering healthy returns to our shareholders.&rdquo
As of the latest available data, IHH Healthcare Berhad' s Singapore operations contribute approximately 27.5% to the group' s total revenue.
alexvar ( Date: 09-Feb-2025 17:30) Posted:
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Singapore clinics see spike in flu jab bookings after Meteor Garden star Barbie Hsu&rsquo s death.
Meanwhile, Raffles Medical Group recorded a 20 per cent rise across its more than 40 clinics in the week following Hsus death.
https://www.malaymail.com/news/singapore/2025/02/08/singapore-clinics-see-spike-in-flu-jab-bookings-after-meteor-garden-star-barbie-hsus-death/165927#google_vignette
Meanwhile, Raffles Medical Group recorded a 20 per cent rise across its more than 40 clinics in the week following Hsus death.
https://www.malaymail.com/news/singapore/2025/02/08/singapore-clinics-see-spike-in-flu-jab-bookings-after-meteor-garden-star-barbie-hsus-death/165927#google_vignette
IHH unit may seek higher compensation in lawsuit against Japan&rsquo s Daiichi Sankyo over Fortis deal
The compensation ranges from 4.2 billion to 109.3 billion Indian rupees, depending on which parameters are applied
AN INDIRECT, wholly owned subsidiary of integrated healthcare player IHH Healthcare : Q0F +0.46%, Northern TK Venture (NTK), on Thursday (Feb 6) submitted an additional brief to the Tokyo District Court, including a report for the range of compensation NTK is seeking against Japanese pharmaceutical company Daiichi Sankyo.
The amount of compensation detailed in the report by NTK&rsquo s appointed expert, Osborne Partners, ranges from 4.2 billion Indian rupees (S$65 million) to 109.3 billion rupees, said IHH Healthcare in a bourse filing.
The upper bound of the damages, 109.3 billion rupees, which is equivalent to 199.8 billion yen, is higher than the initial figure of 20 billion yen in damages sought by NTK.
To recap, NTK in October 2023 filed a lawsuit in the Tokyo District Court alleging that Daiichi Sankyo caused losses by preventing NTK from proceeding with open offers to buy a stake in Indian hospital network Fortis Healthcare in 2018.
IHH halted its open offer to buy an additional stake in Fortis after the Indian Supreme Court put the sale on hold in December 2018. This came after Daiichi argued that certain transactions between IHH and Fortis violated the court&rsquo s directions, and initiated contempt proceedings against Fortis to maintain status quo on the deal with IHH.
In the brief submitted on Thursday, the report by Osborne Partners included an analysis and quantification of the damages suffered by NTK based on three counterfactual scenarios had the open orders proceeded.
Thus, the amount of compensation being sought by NTK is a range, depending on what relevant parameters are applied, said IHH Healthcare.
&ldquo NTK reserves its rights to amend its claim for damages, including to add other heads of loss and/or to claim the costs of the legal fees it is seeking from Daiichi Sankyo,&rdquo noted IHH Healthcare.