Singapore, 27 February 2023 – RafflesMedicalGroup (the Group) today reported its FY 2022 results, posting revenue of S$766.5 million, a 5.9 per cent increase over FY 2021, and Profit after Tax of S$143.7 million, a 71.7 per cent increase compared with FY 2021.

●More foreign patients returning for medical treatments with resumption of global travel

As the world transitions to living with COVID-19, the Group saw more local and foreign patients returning for treatment at RafflesHospital, RafflesMedical, and RafflesDental. The Group′s core business in Singapore is expected to continue its growth and expansion whereas the non core COVID-19 related business is expected to phase out. With China′s COVID-19 containment policies relaxed, local and expatriate patients can now return to seek treatment at the Group′s hospitals and medical clinics.

●Customising healthcare solutions for both corporate and individual clients

With more than 46 years of offering quality healthcare solutions to patients, the Group continues to evolve and work with key corporate customers and clients across the 14 cities, to develop and offer integrated healthcare solutions that are tailored to meet their needs.

●Exploring new business opportunities amidst economic challenges

Notwithstanding the headwinds of inflation, higher interest rates and possible interruption to supply chain, the Group will continue to improve its operational leverages of existing businesses. The Group will also explore new business opportunities as they arise.

●About Raffles Medical Group

Founded in 1976, RafflesMedicalGroup (RMG or the Group) is one of the leading integrated private healthcare providers in the region, providing a continuum of services from primary and tertiary care to health insurance for people across Asia. A proudly Singaporean brand, RMG is listed on the mainboard of the Singapore stock exchange (SGX: BSL) and operates in 14 cities in five countries in Asia. This network includes three tertiary hospitals and over 100 multi-disciplinary clinics,offering services such as health screening, specialist care, diagnostic radiology, dental and traditional Chinese medicine. Together with over 2,800 employees, RMG brings more than 46 years of trusted healthcare expertise and care to over 2 million patients annually across our network as their trusted partner for health. For more information, please visit rafflesmedicalgroup.com.

●About Raffles Medical

RafflesMedical is the primary care network of RafflesMedicalGroup operating over 55 practices and clinics in Singapore providing family medicine, health screening and dental services. RafflesMedical also has Japanese clinics and/or clinics offering Japanese services in Singapore, Osaka, Tianjin, Beijing, Hanoi and Ho Chi Minh City, servicing its Japanese patients with family medicine and dental services. In Singapore, RafflesMedical represents one of the largest networks of primary care clinics and services over 7,000 corporate clients, supporting the healthcare needs of businesses and employees. Through RafflesMedicalInternational, the Raffles brand of quality and affordable care is available to patients in 14 cities, including Singapore, Greater China, Japan as well as Cambodia and Vietnam.

●About Raffles Hospital

RafflesHospital is the flagship private tertiary hospital offering of the Group in Singapore, that currently boasts a growing network of tertiary hospitals in Singapore and China, including RafflesHospitalChongqing, RafflesHospitalShanghai, and RafflesHospitalBeijing. In Singapore, RafflesHospital offers a comprehensive range of medical and dental specialties as well as diagnostic services. RafflesHospital is the only private tertiary hospital in Singapore to be recognised by the Ministry of Health as Trauma Centre and is authorised to accept emergency cases from public ambulances under the Emergency Care Collaboration Scheme. The Hospital also operates more than 31 specialist centres and specialist satellite clinics, covering over 30 disciplines. Subscribing to the Group Practice model of healthcare, over 1,500 physicians, nurses and allied healthcare professionals bring the Raffles brand of quality, peer-reviewed healthcare to patients in the region.

●About Raffles China Healthcare

RafflesChinaHealthcare is the operating division of the RafflesMedicalGroup in China that provides patients with a suite of healthcare services from primary care to tertiary care. RafflesChinaHealthcare provides primary and tertiary care through its clinics and hospitals in seven cities in China – Beijing, Chongqing, Hong Kong SAR, Nanjing, Shanghai, Shenzhen and Tianjin. RafflesChinaHealthcare′s network of tertiary hospitals includes RafflesHospitalChongqing, Singapore′s first private tertiary hospital in China, and RafflesHospitalShanghai, which opened in July 2021, as well as the RafflesHospitalBeijing, bringing the Raffles brand of quality, peer-reviewed healthcare to more patients in China. RafflesChinaHealthcare has been in operation in Hong Kong SAR since 1995 with multiple medical centres across Hong Kong SAR as well as Hong Kong International Airport where it is the exclusive medical service provider for the airport.

●About Raffles Health Insurance

RafflesHealthinsurance is the health insurance division of RafflesMedicalGroup, providing healthcare insurance to corporates and individuals in Singapore. Backed by the expertise of a trusted medical group with over 46 years of experience, RafflesHealthinsurance seeks to provide healthcare financing solutions that cater for the needs of all its policy owners and members. Incorporated in 2004, RafflesHealthinsurance is a wholly-owned subsidiary of the RafflesMedicalGroup and is the seventh insurer appointed by the Ministry of Health as an Integrated Shield Plan provider in Singapore. RafflesHealthinsurance, through its partnership with Bupa Global, also offers a wider range of international private health plans, which are co-insured by RHI and Bupa, to cater to the needs of individuals and corporate clients of the international business community in Singapore.