Operations Review Greater China The IHH network in Hong Kong comprises Gleneagles Hong Kong Hospital (GHK), Gleneagles Healthcare Wong Chuk Hang Clinic and Gleneagles Healthcare South Horizons Clinic and Parkway Health Central Hong Kong Medical Centre. In the Chinese mainland, our network comprises the newly opened Parkway Shanghai Hospital and a chain of medical centres. When fully ramped up, Parkway Shanghai Hospital will offer a comprehensive range of specialties and healthcare services, with a focus on seven key areas: cardiology, cardiac surgery, gastroenterology, urology, minimally invasive surgery, general surgery and internal medicine. Performance Highlights • Gleneagles Hong Kong Hospital (GHK) – EBIT breakeven achieved in May 2023. – Increased clinical offerings such as the launch of its Gynaecological Oncology Centre in April 2023, to provide one-stop and personalised treatments for patients with gynaecological cancer. – The hospital has also recently expanded its Dialysis Centre to continue offering excellent dialysis services to take care of the needs of all dialysis patients including those with hepatitis B. • Opened Gleneagles Healthcare Wong Chuk Hang clinic, a multidisciplinary ambulatory care centre in October 2023. • Gleneagles Healthcare South Horizons clinic opened in February 2024, extending the reach of its professional primary healthcare services to more residents in the Southern District. • Mainland China – Retained our presence in China, building upon our network of clinics as a feeder to complement Parkway Shanghai Hospital. – Embarking on rebranding initiatives of the clinics in Shanghai to attract local patients. – Continual ramp-up of Parkway Shanghai Hospital while minimising losses. Outlook With increased government spending in healthcare and a focus on easing resource pressure on public hospitals, IHH will continue to support the healthcare needs of the people with expanded cluster offerings via its hospitals, clinics and laboratories. GHK will be setting up more clinics and ambulatory care centres in the next five years to further support the cluster growth in Southern Hong Kong. GHK will also ramp up hospital bed capacity over the next five years by adding around 170 beds. In China specifically, plans to rebrand its clinics’ positioning as well as to enhance its operations are currently underway. Additionally, efforts are made to attract more healthcare professionals to join the private healthcare sector, while simultaneously improving private insurance penetration among the locals. Performance Indicators Financial FY2022 FY2023 Revenue RM998.4 million RM1.3 billion EBITDA RM(60.3) million RM74.5 million IHH Healthcare Berhad 40 Strategic Report
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