In today’s briefing:
- Malaysia Betters Rubber Production, Finds A ‘Glove Avenue’ In US Tariff
- Bumrungrad Hospital (BH TB): Q1 Revenue and Margins Suffer On Lower International Patient Volume
- Medtronic Plc (MDT US): New Approvals to Accelerate Growth Ahead; A Good Time to Buy
Malaysia Betters Rubber Production, Finds A ‘Glove Avenue’ In US Tariff
- February marks 18.7% NR yield growth MoM, 21.3% growth YoY
- Exports of NR too go up by an impressive 23.7% MoM
- Malaysian gloves set to upend China’s competition in US market
Bumrungrad Hospital (BH TB): Q1 Revenue and Margins Suffer On Lower International Patient Volume
- Bumrungrad Hospital Pub Co (BH TB) reported 6% decline in hospital revenue to THB 6,120M in 1Q25 as revenue from international patients decreased 12% YoY.
- In 1Q25, EBITDA decreased 13% YoY to THB 2,338M, with EBITDA margin contracting 300bps YoY to 37.7% as SG&A expenses rose 6% to THB 1,084M.
- Competition from peers like BDMS and the new co-payment rules remain near term hiccups.
Medtronic Plc (MDT US): New Approvals to Accelerate Growth Ahead; A Good Time to Buy
- Medtronic Plc (MDT US) has submitted the Hugo robotic-assisted surgery system to the FDA for a urologic indication in 1Q25. In clinical trial, Hugo met the safety and effectiveness endpoints.
- Approval is expected in 2H25. Medtronic expects Hugo would contribute to the company’s surgical business in FY26 and will be ‘a meaningful growth driver’ for the company in the medium-term.
- Medtronic is well-positioned for accelerated growth, driven by momentum in some of the most attractive growth markets in MedTech. The U.S. approval of Hugo is an icing on the cake.
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