Raffles Medical

Raffles Medical (RFMD SP): Resilient Business Model; Border Reopening to Further Boost Growth

Equity Bottom-Up
278 Views, 10 May 2022 20:32
EXECUTIVE SUMMARY
  • Raffles Medical (RFMD SP) reported 27% y/y revenue growth to S$723.8 million and net profit increase of 30% y/y to S$83.7 million in 2021.
  • Following full border reopening by Singapore beginning April, medical tourism is set to revive. As a leading hospital operator in Singapore, Raffles is well-positioned to grab the opportunity. 
  • Regular share buyback and recent stake increase by a major investor further enhance conviction on the company’s growth potential.
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Tina Banerjee
Global Healthcare Analyst
Health CareEquity Bottom-UpThematic (Sector/Industry)

Equity research analyst having 15+ years of experience, with an interest on fundamentally strong global healthcare compa... 

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