IHH Healthcare's revenue hikes up by 18% to $841.2 million

Thanks to the sustained contributions from new hospitals.

Singapore-listed healthcare provider IHH Healthcare Berhad reported an improvement in its revenue for the quarter ending in June, registering an 18% increase from $706.6 million last year.

According to the company, the revenue increase is on the back of sustained organic growth and contribution from newly-opened hospitals.

"Newly acquired assets over the past year – Continental Hospitals and Global Hospitals in India, and Tokuda Group and City Clinic Group in Bulgaria – also contributed to the increase in the Group’s Q2 2016 revenue," IHH said in a statement.

The group's largest operating subsidiary, Parkway Pantai, reflected a 17% growth in revenue with the ramp up of Mount Elizabeth Novena in the city state.

"Inpatient admissions at its Singapore hospitals grew by 7.5% to 18,698, driven largely by local patients. Meanwhile, inpatient volumes at its Malaysia hospitals were flat at 47,067. Average revenue per inpatient admission (“revenue intensity”) in Singapore was flat at RM26,447 while improving by 5.5% to RM5,936 in Malaysia," IHH noted.

Parkway Pantai Ltd. is one of the Asia's largest integrated private healthcare groups with a network of 31 hospitals in Singapore, Malaysia, India, China, Brunei and UAE.