Global Healthcare Analyst

Tina Banerjee

Equity research analyst having 15+ years of experience, with an interest on fundamentally strong global healthcare companies. I have been helping investors to find future winners in healthcare space to grow their wealth by focusing on the strength and potential of the business models of the companies. My initiating coverage reports and pitch help investors to know ‘what to buy’, ‘why to buy’, and ‘when to buy’. My clients always remain on top of the sector with the help of my timely and detailed notes on earnings or any news update. I also provide broader view on the entire healthcare sector through periodic thematic reports.

Equity Bottom-Up

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<a href="https://www.smartkarma.com/entities/raffles-medical-group-ltd" target="_blank" data-smartkarma-citation="entities:879:1" rel="noopener">Raffles Medical Group (RFMD SP)</a> ended 2025 with PATMI growth of 13% YoY to S$71M (25% YoY decline in 2024), driven by improved performance of hospital services and insurance businesses.</li>
<li>Hospital services division reported 4% YoY revenue growth to S$358M and 15% YoY profit growth to S$41M in 2025, supported by steady patient volumes, higher bill sizes, and operational efficiencies.</li>
<li>Balance sheet remained strong, with strong net cash position, providing flexibility to support strategic growth initiatives. The company is optimistic to remain profitable in 2026.</li>
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Raffles Medical Group (RFMD SP) ended 2025 with PATMI growth of 13% YoY to S$71M (25% YoY decline in 2024), driven by improved performance of hospital services and insurance businesses.
Hospital services division reported 4% YoY revenue growth to S$358M and 15% YoY profit growth to S$41M in 2025, supported by steady patient volumes, higher bill sizes, and operational efficiencies.
Balance sheet remained strong, with strong net cash position, providing flexibility to support strategic growth initiatives. The company is optimistic to remain profitable in 2026.


Raffles Medical (RFMD SP): Accelerated Earnings Growth in 2025; Positive Outlook