Raffles Medical to spend SGD1 bn to expand in Asia
21-Jul-16, The Straits Times
Singapore's biggest healthcare provider Raffles Medical Group will spend SGD1 bn (USD737 mn) over the next three years to set up hospitals and clinics in Asia, group chairman and co-founder Loo Choon Yong said.
%20Raffles%20Medical%20Group_ST%20File.jpg "Raffles Medical to spend SGD1 bn to expand in Asia (c) Raffles Medical Group ST File")
Image: Raffles Medical Group / ST File
About SGD600 million will be used to spur growth outside its Singapore base, particularly in China, where an ageing population and government reforms are expected to boost demand for medical care.
"Asia is growing," Dr Loo said in an interview on Monday. "Maybe we are talking slower growth but it is a plus compared with Europe and the United States."
RMG owns hospitals, clinics and laboratories in Singapore, Japan, Vietnam and Cambodia. The group is planning new hospitals in Beijing and Shenzhen, while its Shanghai hospital is expected to be operational by end-2018.