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Singapore “Flyer” of the Week: Singapore Medical Group

Singapore Medical Group Limited (Catalist: 5OT), or SMG, has flown 17.4% so far for the week, closing at S$0.155 on Thursday.

The healthcare outfit provides multi-disciplinary specialist healthcare services across different fields such as ophthalmology, aesthetic medicine, sports medicine and oncology. Some of its clinics include Lasik Surgery Clinic, The Dental Studio, and Singapore Aesthetic Centre.

Last week, on 14 Jan 2014, the company announced that, it had signed a Memorandum of Understanding (MOU) between itself and Ciputra Group in Indonesia on 8 Jan 2014 to establish Ciputra SMG Eye Clinic in Ciputra Medical Centre, located in the Mall of Ciputra World 1, Lotte Shopping Avenue, Jakarta, Indonesia. Ciputra SMG Eye Clinic will focus on “serving patients requiring vision correction and treatment through LASIK surgery and cataract surgery”.

Dr Beng Teck Liang, Chief Executive Officer of SMG, said, “Indonesia is a very important medical tourism market for SMG and we are delighted to be able to continue extending Singapore’s high standards and quality healthcare outside our shores. We are extremely excited to work with Ciputra Group to provide patients in Indonesia with FDA-approved laser vision correction technologies as well as safe and reliable cataract surgery to regain their vision. We are committed to work with Ciputra Group to deliver patient centered medical care and experience to every individual.”

The company has been loss-making for the last two financial years.

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The information provided is for general information purposes only and is not intended to be personalised investment or financial advice. Motley Fool Singapore contributor Sudhan P doesn’t own shares in any companies mentioned.