Latest news with #RM5.96bil
The Star
6 days ago
- Business
- The Star
IHH revenue grows to RM6.29bil in 1Q25
PETALING JAYA: IHH Healthcare Bhd will be forging ahead with its expansion and growth strategies to meet the increasing demand for quality healthcare services locally and across the region. Following the acquisitions of Timberland Medical Centre in Sarawak and Island Hospital in Penang in 2024, the group said in a Bursa Malaysia filing that it had opened the 127-bed Acibadem Kartal Hospital in Turkiye in the first quarter ended March 31, 2025 (1Q25) and expects to complete the acquisition of the 228-bedded Shrimann Superspeciality Hospital in India during the year. For 1Q25, IHH's net profit dropped to RM514mil from RM768mil in the previous corresponding quarter, while revenue grew to RM6.29bil from RM5.96bil a year earlier. 'The growth in revenue was driven by a sustained demand for quality healthcare services, a case-mix of more acute patients and price adjustments to counter inflation. 'The consolidation of Island Hospital, which was acquired in November 2024, also contributed to the increase in revenue.' IHH said its Singapore hospital inpatient admissions decreased 6% to 14,493 in 1Q25 while its revenue per inpatient admission increased 10% to RM67,294. 'Malaysia's hospital inpatient admissions increased 6% at 62,406 in 1Q25 while its revenue per inpatient admission increased 6% to RM11,334. 'India's hospital inpatient admissions increased 7% to 78,485 in 1Q25 while its revenue per inpatient admission increased 4% to RM10,152.' Meanwhile, Turkiye and Europe hospital inpatient admissions was flat at 66,776 in 1Q25 while its revenue per inpatient admission increased 16% to RM13,522 with price adjustments, especially in Turkiye, to counter hyperinflation. While the demand for quality healthcare remains robust, IHH said ongoing industry-wide challenges including rising cost pressures as well as higher energy costs and staff costs. 'In addition, payor pressures from both public and private insurers continue to shape reimbursement dynamics in the industry.' To unlock value from its key markets and to address the industry-wide challenges, IHH said it has embarked on a multi-year transformation initiative to drive continuous improvement through seven focus areas. The areas are clinical excellence, patient experience, new care models, operational excellence, payor and regulator engagement, employee and doctor value proposition, and the advancement of technology, data, and artificial intelligence. 'The group remains in a good position given its strong track record in delivering high-quality and cost-effective healthcare. 'By leveraging operational synergies across its international network, the group remains confident in its ability to maintain cost efficiency while upholding its commitment to value-based healthcare.' Despite global economic and geopolitical headwinds, IHH said it remains well-poised to navigate uncertainties, underpinned by strong fundamentals, strategic growth initiatives, and long-term healthcare megatrends.
The Star
7 days ago
- Business
- The Star
IHH to forge ahead with expansion and growth strategies
PETALING JAYA: IHH Healthcare Bhd will be forging ahead with its expansion and growth strategies to meet the increasing demand for quality healthcare services locally and across the region. Following the acquisitions of Timberland Medical Centre in Sarawak and Island Hospital in Penang in 2024, the group said in a Bursa Malaysia filing that it had opened the 127-bed Acibadem Kartal Hospital in Turkey in the first quarter of 2025 (1Q25) and expects to complete the acquisition of the 228-bedded Shrimann Superspeciality Hospital in India during the year. For 1Q25 (ended March 31, 2025), IHH's net profit dropped to RM514mil from RM768mil in the previous corresponding quarter, while revenue grew to RM6.29bil from RM5.96bil a year earlier. 'The growth in revenue was driven by a sustained demand for quality healthcare services, a case-mix of more acute patients and price adjustments to counter inflation. 'The consolidation of Island Hospital, which was acquired in November 2024, also contributed to the increase in revenue.' IHH said its Singapore hospital inpatient admissions decreased 6% to 14,493 in Q15 while its revenue per inpatient admission increased 10% to RM67,294. 'Malaysia's hospital inpatient admissions increased 6% at 62,406 in 1Q25 while its revenue per inpatient admission increased 6% to RM11,334. 'India's hospital inpatient admissions increased 7% to 78,485 in 1Q25 while its revenue per inpatient admission increased 4% to RM10,152.' Meanwhile, Turkiye and Europe hospital inpatient admissions was flat at 66,776 in 1Q25 while its revenue per inpatient admission increased 16% to RM13,522 with price adjustments, especially in Turkiye, to counter hyperinflation. While the demand for quality healthcare remains robust, IHH said ongoing industry-wide challenges including rising cost pressures as well as higher energy costs and staff costs. 'In addition, payor pressures from both public and private insurers continue to shape reimbursement dynamics in the industry.' To unlock value from its key markets and to address the industry-wide challenges, IHH said it has embarked on a multi-year transformation initiative to drive continuous improvement through seven focus areas - clinical excellence, patient experience, new care models, operational excellence, payor and regulator engagement, employee and doctor value proposition, and the advancement of technology, data, and artificial intelligence. 'The group remains in a good position given its strong track record in delivering high-quality and cost-effective healthcare. 'By leveraging operational synergies across its international network, the group remains confident in its ability to maintain cost efficiency while upholding its commitment to value-based healthcare.' Despite global economic and geopolitical headwinds, IHH said it remains well-poised to navigate uncertainties, underpinned by strong fundamentals, strategic growth initiatives, and long-term healthcare megatrends.
