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SINGAPORE: Thomson Medical Centre said its third quarter net profit was S$4.8 million, a rise of 38.7 per cent on year.
This is on the back of a 25 per cent rise in revenue to some S$22 million.
Thomson benefited from its core business segments with higher patient loads and demand for rooms.
A higher number of deliveries was a bundle of joy for Thomas Medical's third quarter.
The centre handled 2,291 deliveries in the three months to May 31 making it nearly 7,000 births in the first nine months.
This, in turn, created more demand for its hospital rooms.
Together with more surgical cases, Thomson also saw increased patient loads through its network of clinics which it wants to expand.
The star-performing sector of its business is in specialised and other services, with the recent opening of two specialised centres a women's cancer centre and its paediatric centre. This business segment saw a near 70 per cent jump in revenue to S$6.8 million in the third quarter.
Allan Yeo, group chief executive, Thomson Medical Centre, said: “We’re hoping to grow our cancer centre and paediatric centre within the current premises as well as perhaps look at satellite areas to establish our paediatric services. So organically there's a lot for us to grow as well. For us, we are not putting a time frame to this. The important thing is looking for good doctors."
Going ahead, Thomson said it's looking at new growth drivers from overseas in the next quarter.
Its hospital consultancy and management project in Vietnam, the Hanh Phuc International Women and Children Hospital in Binh Duong Province will have a soft launch in October.
With a second Vietnam project in Hanoi which will start once a suitable site has been found, Thomson says it's optimistic about the Vietnamese market.
Mr Yeo said:"We feel that we want to do a good job at this hospital while we actually look at opportunities for land for the second. We feel that Vietnam has huge potential because Singapore’s national birth is 39,000 per year, whereas in Vietnam one hospital does 56,000 deliveries.
“One year, Vietnam produces one million babies. And there's a lot of demand for good facilities which currently Vietnam does not have. So we feel that we are there to actually provide these facilities that the people look for.”
Thomson Medical said it is in talks with parties in Malaysia and India for expansion possibilities but nothing firm has been established.
The group expects to be profitable for the final quarter and for the full year on the back of a better economic outlook.
In Monday trade, shares of Thomson Medical closed up 0.7 per cent at 72 cents. - CNA/vm
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