Singapore We are the largest private healthcare operator in Singapore, with reputable brands that are trusted by both locals and healthcare consumers in the region. Our network includes Gleneagles Hospital, Mount Elizabeth Hospital, Mount Elizabeth Novena Hospital and Parkway East Hospital. These JCI-accredited hospitals house over 1,000 licensed beds and over 1,500 world-class clinical specialists across all specialties. IHH Singapore also reaches international patients via 35 patient assistance centres located in various parts of the world. Also included under the IHH Singapore umbrella are Parkway MediCentre Woodleigh, IHH’s first ambulatory centre; the Parkway Shenton network of over 50 primary care clinics; iXchange, which administers employee benefits plans; and numerous centres delivering specialty and ancillary care services such as Parkway Cancer Centre, Parkway Radiology, Parkway Rehab and Parkway Emergency Services. Performance Highlights • Higher revenue mainly driven by improved case mix. Despite ongoing renovations taking place at Mount Elizabeth Hospital, coupled with the conversion of multi-bed to single-bed rooms across our hospitals, our inpatient admits remain stable from a year ago. • Mount Elizabeth Novena Hospital was the first private hospital in Southeast Asia to open a Proton Therapy Centre, providing advanced precision therapy to cancer patients. • Plans are underway to have more ambulatory centres within our network, with the intention to move the loweracuity treatments out of the hospitals. This will optimise hospital bed availability for those requiring higher-acuity care. For example, Parkway MediCentre, IHH’s first ambulatory centre in Singapore, opened at Woodleigh Mall. It offers a wide range of medical services from GP consultations, urgent care, chronic disease management and specialist consultations to health screenings and more. • In line with the Healthier SG government initiative, we are looking to increase our primary care clinics by more than 15 in the next five years to support Singapore’s ageing population and serve as referrals into our hospitals. • Formed strategic partnership with FPT Long Chau in Vietnam to bring advanced medicine, particularly in the area of oncology services, closer to the Vietnamese people. Outlook Aligned with the Ministry of Health’s (MOH) national initiative focusing on preventive health, Healthier SG, IHH Singapore is executing its “out of hospital” strategy. We will add more than 15 primary care clinics over the next five years to our network, as well as expand in the ambulatory care space. The addition of ambulatory care centres, both in the community and near our hospital facilities, will serve to decant lower-acuity patients from the hospitals, freeing up hospital beds for higher-acuity cases. Additionally, IHH Singapore continues to upgrade and bring in the latest medical equipment such as the Proton Therapy machine, enabling doctors to perform complex procedures with the best possible outcomes for patients. IHH Singapore will endeavour to continue attracting and retaining our healthcare workforce, especially our nursing population which is currently fully resourced. Performance Indicators Financial FY2022 FY2023 Revenue RM4.9 billion1 RM5.6 billion EBITDA RM1.5 billion1 RM1.6 billion Operational Average occupancy 56% 61% Inpatient admissions 61,951 61,197 Average revenue per inpatient admission RM52,769 RM59,529 1 FY2022’s revenue and EBITDA numbers have been restated as Labs is carved out as a separate business segment in FY2023. Annual Report 2023 37
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