RAFFLES MEDICAL GROUP LTD
R01.SI
Expands presence with new clinic in Japan
- Raffles Medical Group has made its first foray into operating clinical facilities in Japan by opening a medical centre at Herbis Osaka, Kitaku in Osaka City. The 5,400 square feet medical centre is located in the prime central business district at the downtown Osaka/Umeda station, and offers a range of services to local Japanese and expatriate patients.
- Herbis Osaka, where the clinic is located, has retail, office and hotel components, with the Ritz Carlton Osaka located in the same building.
- "RafflesMedical Osaka" will be operated by the group's subsidiary Raffles Japanese Clinic, along with its JV Japanese partner Socion Healthcare Management Ltd. This announcement comes after the group had recently acquired International SOS (MC Holdings) Pte Ltd, which operates 10 clinics in China, Vietnam and Cambodia.
- While these clinics may not contribute substantially to earnings, the clinics will facilitate the group in gaining a foothold in new growth areas.
- Maintain HOLD with fair value estimate of S$4.59.
Jodie Foo | http://www.ocbcresearch.com/ OCBC Securities 2015-09-08
4.59
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