IHH Healthcare Berhad | Annual Report 2024 40 Strategic Report Operations Review Türkiye and Europe We operate 24 hospitals – seven of which are JCI-accredited – and 15 medical centres in Türkiye, North Macedonia, Bulgaria, Serbia and the Netherlands under the esteemed Acibadem brand. Collectively, we serve over five million patients in the region annually. Acibadem is renowned for its clinical excellence, with hospitals that are well-equipped with a capacity of over 5,000 beds, state-of-the-art medical technologies, such as smart radiotherapy, robotic surgery, intraoperative radiotherapy and digital tomosynthesis mammography. Acibadem is also a trusted name among medical tourists and operates 59 offices in 56 cities to serve international patients. Key Growth Areas • Bed expansion through existing and new hospitals • High quality medical treatments with excellent clinical outcomes Performance Highlights • Consistent revenue growth over the past few years despite operating in a hyperinflationary economy. • Stable non-Lira contributions from the European business and foreign patients seeking treatment in Türkiye. This is part of the currency risk diversification strategy. • Renovation and expansion of Acibadem Kent Hospital will likely be completed in 2025. Once completed, the 250 bed facility, situated in Izmir, the third largest city in Türkiye, will offer a wide range of medical treatments with state-of-the-art medical equipment, international healthcare standards and the Acibadem design and operational standards • Won first place for the ninth consecutive year in Türkiye’s Health Services Export Championship Award. This reaffirms Acibadem’s position as Türkiye’s leading healthcare exporter. This recognition follows a year where Acibadem served 55,000 patients from 148 countries, demonstrating its commitment to high-quality, reliable healthcare. Outlook Türkiye and Europe have ageing populations requiring greater and more complex care. We are on track to meet these needs by expanding our bed capacity in Türkiye and Europe within the next five years. We will also continue to strengthen Acibadem’s position as the private healthcare provider of choice for patients locally and abroad. The new Acibadem Kartal Hospital was opened in February 2025 in Istanbul. The hospital has a 127-bed capacity and advanced technologies to deliver a comprehensive suite of healthcare services to patients. As part of our strategy to manage foreign currency volatility, we will continue to explore ways to expand our footprint and contributions from operations in Europe. This also includes attracting more medical travellers into our network in Istanbul to mitigate exposure risk to the Lira. To sustain growth and serve more private healthcare consumers, we are continually exploring earnings-accretive acquisitions in the region aligned with our cluster strategy. Performance Indicators Financial FY2023 FY2024 Revenue RM5.9 billion RM7.2 billion EBITDA RM1.2 billion RM1.5 billion Operational Average Occupancy 70% 71% Inpatient admissions 249,829 254,243 Average revenue per inpatient admission RM9,187 RM13,294
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