A bold new venture into the Chinese healthcare market

First quarter profits have slumped at Raffles Medical Group (RMG), the largest private medical group practice in Singapore, thanks to startup costs in China. Raffles Hospital Chongqing is seen as the beginning of a bold new venture into the Chinese healthcare market for RMG providing unlimited opportunities to expand its services.

On a comparable basis, excluding the costs of the new hospital, the group’s profits would have grown by 2.1%. In its outlook for the year, the RMG said that it expected to grow its revenue and remain profitable in 2019, “notwithstanding the expected gestation loss for Raffles Hospital Chongqing”.