Raffles Medical Group Ltd (SGX: BSL) runs hospital and healthcare services in Singapore. It also has a network of clinics in five countries and 14 cities, in addition to two hospitals (one under development) in China.
The company recently published its annual report for the year ending 31 December 2018. Given that reading an annual report is one of the best ways to keep up with a company’s developments, I decided to go through Raffles Medical’s latest annual report to understand the company’s prospects and how it had performed in 2018.
Let’s look at some interesting information the company shared in its latest annual report about Raffles Hospital Chongqing.
Firstly, Raffles Hospital Chongqing is a 700-bed tertiary international hospital. It has an international team of specialists, physicians, nurses, and allied health professionals from Singapore, Hong Kong, Taiwan, Malaysia, Australia, Canada, Europe, and China.
The hospital will focus mainly on specialist services. According to the annual report:
“The hospital will offer a full complement of specialist services. Gastrointestinal surgery, obstetrics & gynaecology, paediatrics, cardiovascular surgery, neuroscience and oncology will serve as its centres of excellence.”
Raffles Medical intends to have a mix of management staff from Singapore as well as locally hired personnel to run Raffles Hospital Chongqing.
“Selected management staff from Raffles Hospital in Singapore are seconded to Raffles Hospital in Chongqing to ensure that the Hospital draws on established expertise, systems and service standards. Some of the locally hired senior staff and doctors were sent to Singapore for attachment to ensure that they were familiar with Raffles Hospital’s system and service model.”
Raffles Hospital Chongqing is Raffles Medical’s first hospital in China. Thus, it’s important that Raffles Medical finds the best model to manage it.
If successful, Raffles Medical can replicate this operating model in its future expansion in China.
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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 Lawrence Nga doesn’t own shares in any companies mentioned. The Motley Fool Singapore recommends Raffles Medical Group Ltd.